<story><title>Is technical analysis just stock market astrology?</title><url>https://alicegg.tech//2023/07/25/technical-analysis.html</url></story><parent_chain><item><author>raincole</author><text>Astrology would be a self-fulfilling prophecy if enough people took it seriously.&lt;p&gt;For example if everyone agreed on that Gemini means good at science and Leo is good at art, the whole education system would be designed around this belief and it would hugely impact how children think of their own potential.</text></item><item><author>amelius</author><text>The entire idea behind technical analysis is that it&amp;#x27;s a self-fulfilling prophecy. The more people believe in a certain rule, the more that rule turns out to be true.&lt;p&gt;It might work that way with astrology too, but it&amp;#x27;s not so clear.</text></item><item><author>nologic01</author><text>No. That comparison is an insult to astrology.&lt;p&gt;While the made-up character is similar, Astrology is far richer in concepts, orchestration and story telling.&lt;p&gt;Technical analysis is the ultimate dumbification of market structure and dynamics, which in itself is a major dumbification of the formal economy, which in itself is a major simplification of the stuff-that-matters(TM).&lt;p&gt;The objective of technical analysis is to get as many low-information actors as possible to transact with as low-cost as possible technology (I would totally not be surprised if current &amp;quot;technical analysis&amp;quot; verbiage is 100% automated).</text></item></parent_chain><comment><author>antognini</author><text>There is a good example of this in Ancient Rome.  By around the time of Augustus Romans were fervent believers in astrology.  One of the most notable cases of astrology becoming a self-fulfilling prophecy has to do with the death of the emperor Domitian.&lt;p&gt;An astrologer named Asclation had earlier predicted that Domitian would die on September 18, 96 AD, and Domitian&amp;#x27;s enemies used this as a sort of nucleation point to organize his assassination.  So although the date was made up, it had the effect of focusing the efforts of the assassins on a particular date, and they were successful in assassinating him on September 18.&lt;p&gt;The full story that survives probably has some embellishments, but is entertaining.  As the day approached Domitian became increasingly nervous.  On September 17, he called Asclation before him and asked him if he stood by his prediction.  Asclation said he did.  Domitian then asked Asclation how Ascaltion himself was to die.  Asclation responded that the stars said that he would die by being torn apart by dogs.  Domitian then had an idea, and condemned him to death by burning.&lt;p&gt;Asclation was immediately led to a public square, tied to a stake, and a bonfire was built underneath him.  Not long after being lit, however, it suddenly began raining and the downpour quenched the flames.  In the wet mess, Asclation&amp;#x27;s stake tipped over and a pack of dogs found him and devoured him.&lt;p&gt;This development naturally did not put Domitian&amp;#x27;s mind at ease.  The next day he became a nervous wreck.  Around noon, he asked an attendant what time it was.  The attendant, who was part of the conspiracy, lied and said that it was an hour later.  Seeing that the danger had passed, Domitian relaxed and decided to take a bath.  As he was about to go out, an official rushed in and asked for his signature on some documents.  The official appeared to have an injury to his arm, but this official was also in on the conspiracy, and his sling concealed a dagger.  When he got close to the emperor he stabbed him to death.</text></comment>
<story><title>Is technical analysis just stock market astrology?</title><url>https://alicegg.tech//2023/07/25/technical-analysis.html</url></story><parent_chain><item><author>raincole</author><text>Astrology would be a self-fulfilling prophecy if enough people took it seriously.&lt;p&gt;For example if everyone agreed on that Gemini means good at science and Leo is good at art, the whole education system would be designed around this belief and it would hugely impact how children think of their own potential.</text></item><item><author>amelius</author><text>The entire idea behind technical analysis is that it&amp;#x27;s a self-fulfilling prophecy. The more people believe in a certain rule, the more that rule turns out to be true.&lt;p&gt;It might work that way with astrology too, but it&amp;#x27;s not so clear.</text></item><item><author>nologic01</author><text>No. That comparison is an insult to astrology.&lt;p&gt;While the made-up character is similar, Astrology is far richer in concepts, orchestration and story telling.&lt;p&gt;Technical analysis is the ultimate dumbification of market structure and dynamics, which in itself is a major dumbification of the formal economy, which in itself is a major simplification of the stuff-that-matters(TM).&lt;p&gt;The objective of technical analysis is to get as many low-information actors as possible to transact with as low-cost as possible technology (I would totally not be surprised if current &amp;quot;technical analysis&amp;quot; verbiage is 100% automated).</text></item></parent_chain><comment><author>azalemeth</author><text>There&amp;#x27;s a very good episode of The Orville essentially based on this premise in disguise and it goes as horribly wrong as you think it would.&lt;p&gt;Humans would totally do this. If anything, I&amp;#x27;m pleased by the fact that we don&amp;#x27;t do it quite as much as we could...</text></comment>