Support and Resistance. Dumb and dumber.

Support and Resistance: Two of the dumbest things a traded should follow.  Often you will see an analysis of a chart, by a "professional" of course (especially on TV) marking the most recent high and low as "support and resistance."  Wolfe Wave Practioners giggle.

Scary headlines freak out investors:

"Market in turmoil" /  "DJIA down for the year after 274-point rout"   /  "Markets dive as jitters grow" 

Unless  you were taking my course.