This paper tests the performance of stock market forecasts derived from technical analysis by means of a specific …. Two test statistics are introduced to utilize the indicator. The results show that the forecasts generated from the … indicator would enable investors to escape most of the crashes and catch most of the bull runs. The trading signals provided by …

forecasts. Yet bias does not necessarily invalidate a forecast, nor does it impinge on its relative quality. We find that … analysts' forecasts are optimistic relative to recently introduced fundamental alternatives. However, analysts' forecasts have … lower absolute deviation and the information in their earnings forecasts has predictive value for near-term stock returns …

dispersion in trading volume across moneynesses (DISP). DISP exhibits strong negative predictive power for future market returns … relatively optimistic periods. Although an aggregate analysts' forecasts dispersion (AFD) measure also performs well in … crisis, AFD was heavily driven by pessimistic forecasts and hence its increase did not reflect a true overpricing. As a …

decision as an exogenous shock, I find that cross-predictability is weaker for firms that are restricted from actively engaging …