EMC Chart, page-2115

Seeing that the majority of trades today in the stock markets and futures markets are executed by algorithms that buy and sell on patterns of price action when there is no significant economic news, it may be a bit short sighted to be making fun of the methods employed by multi-billion dollar funds.

Here's some "chicken or egg" food for thought. What comes first when there is not much news or information to support a decision other than assumptions? The price action/market psychology (viewed through the lens of technical analysis and charts) or fundamentals ?

Saying that, I've always preferred fundamentals in the long term over price action. But price action always wins in short term trading with no economic or business news that shift fundamentals.