Technical analysis in major brokerages and financial media

Weather prediction, medical diagnosis and technical analysis

Suppose, in the weather forecast part of a local newscast, the person handling the weather displays a chart of recent temperatures in the local area, points out “trends” and “waves,” then mentions a “breakout pattern” from a recent temperature range. Most of us would not have much confidence in such a dubious and unorthodox forecast, and, if followed (e.g., for a major storm), could have serious consequences.

Or suppose, when one’s electrocardiogram is taken at a clinic, that the attending physician makes some measurements by hand between some events on the graph

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