You don't think that if enough people/systems watch the same squiggly lines it may be something worth paying attention to?
I've seen enough bounces off MA to know that they do something. Though I don't usually trade by them.
%% Most likely ,NOT a random remark. LOL. WSJ had 2 line charts this week ,about 52 weeks data, DOW+ S&P 500; pretending Dow was a better buy because they had DOW above 200dma, + S&P 500[SPY] below 200 dma. WSJ Quote ''S&P 500 is stuck below 200dma, curbing its early year rally''unquote LOL AS if a lagging/lagging 200 day moving average could stop /stick anything. Surprize surprize, its not stuck below today . WSJ=great newspaper; but Investors Business Daily/Weekly would never print ''NONSENSE'' like that, near its 200dma. LOL
Too slow and lagging? I agree that standard MA's seem fairly useless. At best they can indicate current trend, but they're far too slow to indicate a reversal of trend.