I find the lack of TA-proponents that said "My analysis tells me the price will drop soon! Just you wait!" a bit strange.
Most of this thread was written right right before a major sell off that took the price from $160 to $91 and nobody noticed.
I would have expected that if TA had any predictive properties it would have been easy to predict the recent dropping.
It did. From an Elliott Wave standpoint, three waves up from $50 to $160 meant the rise was corrective and not motive. From a volume/price standpoint, the decreasing volume meant the rise was corrective. From a support/resistance standpoint, the rally ascended into a massive resistance confluence area in the mid-$100s warning of a top. And no, this analysis was predictive and not reactive.
Furthermore, from a TA standpoint, the path leading up to the $266 was somewhat predictable, along with the post-bubble crash bottom, if you understood the technical factors inflating the bubble along with major support areas after it popped.
The reason you don't see more "I told you so" posts is because it's becoming tiresome and mostly useless to argue with those who are out to demonize technical analysis (TA).
