Mandelbrot (of the set) studied the effectiveness of technical analysis and wrote about it in The Misbehavior of Markets: A Fractal View of Financial Turbulence

Mandelbrot (of the set) studied the effectiveness of technical analysis and wrote about it in The Misbehavior of Markets: A Fractal View of Financial Turbulence. This PDF [1] has a summary of the findings. Spoilers: The math shows TA's bullshit. [1] https://users.math.yale.edu/users/mandelbrot/web_pdfs/getabstract.pdf https://users.math.yale.edu/users/mandelbrot/web_pdfs/getabs...