major sellers, page-51

JH: I understand your negativity regarding charts but it's mostly because the majority of people who use them don't really understand what they represent...

charts don't predict the future.....they are merely maps of past human behaviour...and since humans are creatures of habit they tend to repeat the same behaviour if the same set of circumstances present themselves....but they might not too...

Analysts look at charts and think ok this happened here and it might happen again but it doesn't mean it will.....That's the most important thing you have to keep in mind when using charts but no one seems to get that....

Simply put, charts are just warning lights.....not crystal balls, no one knows what will happen when the market opens the next day.....