Bobby:
Thanks for the Links, What is asked of Japan is to quickly overturn a deep-rooted system that may interfere in part with the culture of the country. I wonder how we would react if the Japanese were to continually lecture us how to run our economy as we do them. But that is another topic.
China has played the Asian card rather well to enhance its importance in the global arena and distinguish itself from Japan. I wonder how much Clinton may have been influenced by a threat of non-payment of US dollar loans if China devalued. China, like Russia, would appear to have a self-interest in not devaluing to coddle foreign investors, but how far this can extend remains to be seen.
As to market manipulation by deep-pocket groups, although I respect Ahhaha's opinion, or I would not have asked it, I would agree with you that there is manipulation or that by coincidence, market activity appears to make it so. And it depends how one defines manipulation. As to the former, I read an expose' out of England concerning losses taken by a company because a brokerage firm, due to mistake, did not manipulate the stock price properly at the option expiry. See the Optiion Force Monitor site for more on such activity.
As to the latter, I have observed stocks may rise or fall w/o change in fundamentals or despite fundamentals - and thus I am in agreement with Ahhaha to the extent the market is much a random walk, and although I rely on technicals, I use them as a back-up to fundamental analysis. Jesse's law was to pay close attention to market conditions, rather than charts, as a key to success. One often sees a stock look terrible on a technical basis only to suddently turn around and be a bright performer. And at times, as in some gold stocks appear now, stocks fall, or rise, just because there are those who will sell because they are falling, which Greenspan termed "cumulative downward instability".
And if technical analysis were a panacea, it could be used more successfully in computer programs for as you know, it lends itself to it. And if one did develop a "fool proof" program, it would probably not be offered for sale. Although "the trend is one's friend" , one can miss a large move before a LT trend change is clearly evident. It sounds so easy to buy low and sell high, like a country walk in the springtime, but unfortunately no one, except hindsight, can tell what that low or high is.
Vieserre
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