enragedcow
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I've stated many times that I believe all analysis (technical, fundamental etc) is self-fulfilling so I'd expect that pre 1997 and the advent of market participants seeing patterns (imagined or otherwise mr DT) the indicators and patterns you'd "see" in the charts would have "not worked"
Lightning McQueen
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though self-fulfilling prophecy is an interesting conundrum in itself, i'm not sure this will be the case here. easy thing to do is go and see, which i did. prorealtime daily data goes back to the late 20's on the dow, more than enough data there to go look at.
just using a short term sma as a datum and looking at the pa. this shows that what ever decade, or year, or even month you scan through, shows the same consistent patterns of sideways, trends and reversals. to me anyway, how i'm looking at it. but i do like your theory and will look deeper into it.
ok i concede that intraday things may look very different. i have no data going back yonks to look at, but i'd take a guess that it wouldn't look much different than it does now.
DionysusToast
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LESS IS MORE
Could you dumb that down a bit for the general readership please?
Preferably red for sell, green for buy.
Anything else is simply too much effort.
