Proponents of the EMH think technical analysts ________.

A) should focus on relative strength
B) should focus on resistance levels
C) should focus on support levels
D) are wasting their time

Proponents of the Efficient Market Hypothesis (EMH) believe that all available information is already reflected in stock prices and therefore, there is no point in using technical analysis to try to beat the market. They argue that technical analysts are wasting their time because any patterns or trends they identify would not provide any advantage in beating the market. Therefore, the best choice is D: technical analysts are wasting their time.