“‘Head and shoulders’ is a type of shampoo, not a useful market indicator”

I just saw a tweet link to an article re technical analysis and thought I'd check it out

I'm glad I did!

Article is here: Why technical analysts are celebrating this Bill Gross tweet

Wow!

Anyway ...

Cullen Roche is quoted in the article:

Roche... argues that drawing lines on charts isn't financial analysis and that "'head and shoulders' is a type of shampoo, not a useful market indicator."

Roche is one of my favourites, I have a lot of time for him ... but I'm gonna have to disagree with him on TA