I can feel them coming…the technicians will be here shortly to try to save the day for the bulls. Except they really aren’t technical analysts at all. For 99% of the bullish move in the markets, these pseudo techies are heavy-duty fundamental investors. They love to bash technical analysis any chance they get and constantly harp about low PE ratios, fantastic earnings seasons, forward guidance, blah blah blah. And then, when the market sells off they go to a lab somewhere and transform into the market’s version of Jekyll and Hyde. Suddenly, I hear these same people talking about support levels, fibonacci’s, and when it’s really urgent… the end of the current Elliott wave. So tomorrow or the next day or sometime in the near future, if my suspicions come true and you hear a lot of people talking about technical analysis and the great reasons to buy this market, please consider the sources. Were they cautious technicians who warned you to get out weeks ago or were they spending their time hyping the fundamental reasons for DOW 12000?