I am beginning to read back through Technical Analysis of the Financial Markets. I initially shirked TA as glorified tea leaf reading, but I feel like there is some amount of techniques that work objectively. The trouble is finding them. To me, it seems S/R lines are fairly significant, though I have no objective evidence. Before embarking on a large study of the S&P 500 stocks over the last 10 years - has anyone seen/read any documented, repeatable studies on the predictability of future price moves based on support and resistance? Of all technical analysis techniques - these have a fairly obvious hypothesis (and are therefore testable): support and resistance form psychological points in the market people are afraid to go beyond. Alternatively, they represent the absolute limits of the supply/demand curve of the underlying over a time t. I'd be interested in hearing thoughts and especially links to studies. Keep in mind I'd like them to have some amount of scientific thought - none of this "check out my forex blog where I show how to make INSTANT millions with S/R!"