Herd Behavior Backs Need for Technical Analysis
Fergus Hodgson, July 13, 2020 
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The COVID-19 pandemic has blown up traditional financial models, leaving fundamental analysts at a loss for guidance.
Historically, technical analysis has been the right approach for turbulent economic downturns, argues Murray Gunn, head of global research at Elliot Wave International. He makes the case for “socionomics,” a discipline that posits social moods as the driving force of markets.
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In this week’s Discovery Group segment, Stephen Williams, the vice president of Corporate Development with Bluestone Resources (TSX-V: BSR), explains how the firm keeps advancing the engineering phase of its Cerro Blanco gold project in Guatemala.
Recommended Links
- Follow Murray’s work on Deflation.com and visit the Socionomics Institute.
- Connect with Elliott Wave International on Twitter and Facebook.
- “Today’s Irrational Stock Market: A Moment in the Sun for Technical Analysts?” Wall Street Journal.
- “Socionomics Explained,” by Robert Prechter.
- Elliott Wave Principle: A Key to Market Behavior by A. J. Frost.
- The Socionomic Theory of Finance by Robert Prechter.
If You Liked This Episode
- “What Crowd Psychology Means for Gold,” Gold Newsletter Podcast.
- “Socionomics 101: Read the Mood of the Market,” Gold Newsletter Podcast.
- “What Technical Analysis Foresees for Gold,” Gold Newsletter Podcast.
- “Pandemic Has Gold Flying Off Shelves,” Gold Newsletter Podcast.
Fergus Hodgson is Gold Newsletter’s roving editor. Follow him on Twitter and Facebook.