We discuss in this video why technical analysis is completely useless right now at these elevated levels in the financial markets. It literally all comes down to one thing- who is the big seller that chickens out first.
You can throw all that technical analysis garbage out the window, as everything can be reduced to the first big player that decides to take profits, starts the entire stampede out of the market. Technical analysis isn`t going to give you the heads up, in fact it will come without any notice at all, the player just makes the move, that they want to be first, and everybody else is left dealing with the consequences or ramifications of the fact that they are at best second to exit.
I have seen it start quietly overnight in Asia, after the European close, after an awful job`s report, an ECB meeting, a political event. But these are just the excuses for the selling, it all comes down to a game of chicken, making your move first before the music stops, and the bagholding game begins in earnest.
