Most of the people are convinced that there is a PPT (Plunge Protection team). Some technical analysts also include PPT factor in their analysis.
Now let me look at contradictions. People who believe PPT is active are same people who follow technical analysis. These people look at various technical indicators and give BUY or SELL signal. Now, if you believe, PPT is active then as you look at technical indicators, PPT is also looking at those indicators. If you believe PPT is manipulating markets then it is also manipulating technical indicators (as technical indicators are the result of price movements).
I am not saying technical indicators should not be followed (these are built in HFTs, so one should be careful not to ignore those). I am just driving the point.
One needs to be counter intelligent.
-Shrihas Pandharkar
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DYOR.
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