His methods are in use today among technical analysts and traders around the world.

He also noted that the Dow had come close to 3,250, seen by technical analysts as an important support level.

If mainstream investment firms see little need for technical analysts, why should you?

"People should pay attention to technical analysts because the discipline has fallen from favor," he said.

When an investment declines, technical analysts do not wait long before selling.

"We're taking stocks apart and looking at them more than technical analysts do."

However, technical analysts suggested that the market might be oversold.

He joined the club as a technical analyst in late 2008.

About 26 people worked in the unit, including traders, technical analysts and computer specialists.

The claims of the technical analysts are disputed by many academics.