“Some economists, when thinking about long memory, are concerned that it undercuts the Efficient Market Hypothesis that prices fully reflect all relevant information; that the random walk is the best metaphor to describe such markets; and that you cannot beat such an unpredictable market. Well, the Efficient Market Hypothesis is no more than that, a hypothesis. Many a grand theory has died under the onslaught of real data.” Benoît B. Mandelbrot
05 November 2014
SP 500 and NDX Futures Daily Charts - Fantasy Island
There will be a Non-Farm Payrolls report for October on Friday.
Now that the elections are over, perhaps the government can stop window-dressing the statistics.