The Wall Street Journal

Chart Watchers Say Stocks Rally on Borrowed Time

MoneyBeat by Ben Eisen and Corrie Driebusch

To be sure, technical analysis isn’t a perfect science, and some say it’s gotten harder to trust as U.S. stocks become more susceptible to big swings by many different asset classes, such as the price of oil and the yield on the U.S. 10-year Treasury note, as well as markets all over the globe.

“The markets are more complicated, there’s more global influence,” said John Kosar, director of research at Asbury Research. “It’s a lot harder to forecast markets than it was just five years ago.”

But for some technical analysts to be convinced the worst is over for the markets this year, more evidence will be needed.

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