12:26PM. SPY at 188.22. Very good fight for territory between bears and bulls, both sides may be drawing triangles and possibly feeling higher greed and lower fear, with market makers, stop hunters and market neutrals drooling at stops.
MAs are tools to analyze price. If there is a problem it is in the analysis, and not in the tools (and definitely not in the price).
The major downfall of all MA-based systems is therefore in the user and/or the system, and not in the MAs/chop/price action.
The chop is a symptom that the...