Hotrock: firstly it's a free world (well where I live it is) and fortunately people can sell and buy on whatever basis they choose.
Sometimes the grounds on which they base these decisions are different to our own but churlish negation of such views serves no purpose.
The stock market is purely based on human emotion and nothing else..thats how simple it is....humans buy and sell stocks,m bonds futures whatever based on emotions...
Those emotions are forged on ideas pertaining to fundamentals such as news reports company announcements war catastrophic events etc etc It's not so much the fundamentals that are important rather how humans react to them that counts and those reactions are recorded on charts.
As to the old argument TA versus Fundamentals I believe that to ignore either is paramount to trying to run a race with one leg in a brace.
Charts are great but as you saythey have their basis in past events...they can't predict the future. I liken them to road maps....with sign posts...When you reach a certain point they alert you to the possibility of what might occur not the certainty....
TA and fundamentals are not mutually exclusive...
MEO Price at posting:
55.5¢ Sentiment: Hold Disclosure: Held
