On indicators, price action, and the cult of the squiggly line
Alright, daily open thread, and I'm feeling a bit contrarian today. Watching $SAP bounce around 183.62, and $DKNG flirting with 23.48, it just reinforces my long-held suspicion: are we, as a community, giving far too much airtime to 'indicators' when pure price action and volume tell 90% of the story? I see so many folks piling on moving averages, RSI, MACD — a veritable Christmas tree of lines — and then trying to interpret five conflicting signals when the candle itself, and the context of the prior few, scream the truth. It's almost like a comfort blanket, a way to avoid the sometimes ugly simplicity of what's actually happening. Prove me wrong, I'm genuinely interested in hearing the other side of this. What am I missing in my curmudgeonly view?