One of the great ironies of technical analysis is that its practitioners claim to uncover patterns that probabilistically perform better than random chance would suggest — yet they seem completely oblivious to the greatest meta signal of them all. It’s no wonder, then, that the quantitative approach is rapidly disrupting the old guard in the financial publication industry.
In prior generations, technical analysis — or the study of price behaviors to make trading and investing decisions — represented a novel methodology that quickly caught fire. However, with the rise of globalization, finpubs came to the realization that an opinion-generated system can be disseminated for much cheaper with overseas contractors. Subsequently, many Americans were phased out for purely capitalistic reasons.
