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::The Boston Fed explicitly states: "The Stock Market Report is in no way an endorsement of any one mode of study or source of advice on which one should base investment decisions. While most of the technical indicators chosen are frequently used, and the goal is to portray a set of charts and outlook consistent with Wall Street, the indicators are selected based on our ability to interpret and explain them to investment professionals, policymakers from other fields, and the general public. Therefore, the viewpoint portrayed and any predictions presented as to future market performance imitate, but never replicate, those of any one private or public financial institution. They do not reflect the views of the Federal Reserve System, and they are published to improve public knowledge but are not validated with regard to accuracy of data or analysis and cannot be used for professional purposes." Yet you continue to assert that the report legitimizes technical analysis in some way. --[[User:Benna|Benna]] 00:56, 6 April 2007 (UTC)
:::First, I did not "allege" that the Fed's publication "legitimizes technical analysis." Second, the disclaimer in that publication does not change what I actually did say, namely that the Fed uses and publishes technical analysis. I also said these facts belong in this article about technical analysis. Third, I put back the mention of the Fed as the source of the study regarding fx support/resistance levels. The source should be named, whether it's the Fed, Harvard, or Podunk U. [[User:Rgfolsom|Rgfolsom]] 17:57, 9 April 2007 (UTC)
Further to this discussion, Alan Greenspan has stated in the past that economists cannot predict. It is not original "research" that the Fed (and other Central Banks) use technical analyis. It is a known fact that they use it, read it, and make decisions partially based on it. Ask any sell-side FX or fixed income technical analyst. Here is another Greenspan quote that says economists cannot predict, but where he essentially states the credo of every technical analyst (October 14, 1999). In it he states "the market price patterns remain the same". Although he implies that you cannot predict the bursting of the bubble, stating that the pattern is the same means either you can predict the bursting, or if not that, you can forecast the reversal. This is not research. This is exactly what he said. I was not saying that he uses TA (although I believe he does), but he is stating exactly the reason that technicians believe TA works:
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