Efficient Markets Hypothesis and Fractals Markets Hypothesis

Compare the efficient markets hypothesis and fractals markets hypothesis, indeed they are the different methods from the point of linear and nonlinear in securities markets. Efficient markets hypothesis corresponds to the normal distribution and fractals markets hypothesis corresponds to the distribution with "fat taill". We find that the yield distributions of day indices and week indices of Shanghai and Shenzhen stock exchanges are not normal distribution. But the month indices might different dependent on the different period of data, compare the yield distributions of week indices and day indices of Shanghai and Shenzhen stock exchanges, find the fractals in Chinese securities market.