the dow:richard russell comments, page-6

Interesting thought that pure chart formations control the markets.

I prefer to believe in fundamentals. Charts are OK at best for very short-term fluctuations, but a longer-term bear market can only occur due to fundamental changes to the economic environment.

I'll agree that a US or China recession could trigger a bear market for a time, but not a few squigly lines on a fluctuating chart that are largely the product of superstitious US trader sentiment!

TA/Charts = short-term moves if fundamentals remain unchanged (ie day to day fluctuations).

Fundamentals = long-term trends (bearish or bullish) regardless of TA.