I think the efficacy of technical analysis comes and goes. My father invented the money-flow concept in the early 1960s. In the 1970s and early 1980s, he probably had the best market timing service in the world. But, technical analysis turned out to be the "hook" at the career making or breaking 1982 bottom. Joe Granville called it the immaculate conception as technical analysis missed the bottom. In my opinion, the use of analogies is currently one of the best predictors of future prices. I think technical analysis will be king again. Just not today.