My feeling is that there is only a smidgin of logic in trending graphs etc. which is they take into account psychological behavior which does indeed have an but I think a small influence. Buffet says the market says "the market is a voting machine" but something else that I forget.
Knowing this I tend to buy on a down day & sell on an up for an advantage. But first I do a valuation as if I was buying an unlisted business and buy/sell on that basis.
It saves a lot of effort and seems to work.
chart & chat, page-611
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