Why technical 'analysis' is garbage (explained by a quant developer)

Technical analysis, if you can even call it a form of analysis, is total garbage. Here's why.

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Stock prices follow a random walk:
1) https://web.williams.edu/Mathe....matics/sjmiller/publ
2) https://www.tandfonline.com/do....i/abs/10.2469/faj.v5
3) https://thescipub.com/pdf/jmssp.2010.342.346.pdf

Noise Trading and "Illusionary Correlation" in US Equity Markets: https://academic.oup.com/rof/a....rticle-abstract/17/2

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