Analysing technical analysis

For instance, browsing through my copy of Options, Futures and Other Derivatives (in section 10.1) , I was delighted to find

If the weak form of market efficiency were not true, technical analysts could make above-average returns by interpreting charts of the past history of stock prices. There is very little evidence that they are in fact able to do this.

Now, I’ve just finished The Way of the Turtle which is a great compilation of wisdom on how to use very simple technical analysis to make above-average returns by interpreting charts of the past history stock and commodity prices. These are the self-same techniques that commodity traders have been using to good effect for the past three decades.

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