Do you think technical analysis plays as much of a role in the direction of the market overall as it does in a specific security? I feel like there are so many fundamental factors for the market overall that you'd have to consider (ie. share buyback trends, federal reserve tightening, etc.)
RE: S&P 500 Market Overview
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S&P 500 Market Overview
Elliot waves are applied better in overall markets than specific securities. They use fibonacci numbers which are commonly present in human progress which is represented in markets. Specific securities are more vulnerable to manipulations.
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