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I don't agree that "nothing predicts" or "nothing forecasts" After all, we
all do that every day. We use previous information to create a model
(informal "gut feeling" decisions or formal system) to guide our actions.
I do, however, have problems using the word "leading" with any indicator.
That implies the indicator itself has some power over the market. Maybe
there is a 'self-fulfilling prophecy' if a lot of people see the same
moving average crossover, for example, but this effect would be short-lived
In the end, you're right that supply and demand fix prices. And I've never
heard of an indicator engaging in this activity. ("Hey Fred, Stochastics
just placed an order to sell 100 wheat contracts!". Nope, don't think so)
-RB
>RT's,
>
>Nothing leads, nothing predicts and there is in fact no way to forecast
>anything. In fact there is not even a probability of anything except price
>movement. Price itself tells you only what some trader somewhere was
>willing to pay at a given time and only those involved in discovery have it
>real time! The trend is not your friend if it is about to end, and the
>definition of the trend is highly elusive and subjective. Systems only
>prove that a given criteria would have preformed a certain way in the past.
>No problem!
>
>Regards,
>
>Brent
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