Abstract
The application of chart pattern, or technical, analysis to climate time series was updated and extended on the previous working paper using up-to-date data. The full time span of the global average temperature anomalies (HadCRUT4) was examined for chart patterns. An alternating sequence of rising wedges and consolidation periods was revealed. Their details were evaluated to compare with as well as to supplement financial technical analysis. Chart pattern features in the climate time series matched those reported for the same pattern (rising wedge) in US stock price time series quite well. A tentative prediction arrived at a consolidation period that may last for roughly the next four decades. The results further support the idea of technical analysis as a tool to analyse time series data of high-dimensional complex systems in general. In addition, research on chart pattern reproducing differential equations is encouraged to globally describe the climate system.
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