Here’s my definition of technical analysis (TA), the dubious belief that squiggly lines on a chart will predict price moves. While some signals work sometimes, generally TA is just cartoons for investors who can’t be bothered with fundamental analysis. Like most cartoons, technical analysis is entertaining but not much help. “Dow Theory,” a trusty old gauge for technicians, offers a great example right now. It’s telling us the economy and stocks are about to sink. But just ignore it. This is a false signal. Indeed many transport stocks look like good buys right now in the weakness. I suggest four below. But first, ... (full story)