InterCloud Systems Inc. (ICLD)

[JJ8]

If you were referring to T/A and not about the company, charts represent graphically almost anything and everything that takes place in the market. It is simply a pictorial record of the history of the stock. The chart is necessary and useful because it lends conveniently to the type of analysis which indicates future probabilities.

From "Technical Analysis of Stock Trends by Edwards and Magee:

"There is a saying in Wall Street to the effect that 'there is nothing wrong with charts- the trouble is with the chartists'. Which is simply another way of expressing the truth that it is not the chart itself but its interpretation that is important. Chart analysis is certainly neither easy nor fool-proof. There is no such thing as a sure-fire method of 'beating the market'; the authors have no hesitancy in saying that there never will be.