Many market analysts disparagingly call the technical analysts - VooDoo guys. It is not my call to prove this right or wrong. It also depends on what is meant by Technical analysis by each one. If one looks at this as trying to decipher the psychology of the traders at any points of time and trying to take a call based on that, then it has a lot of merit. How to profit out of that is another matter altogether. Looking at patterns is an art. The patterns mean a lot if read in the correct context- the stage of market. Else one can see patterns everywhere like those in clouds. The meaning is ascribed by our wishes. Einstein is supposed to have said, :Look for what is, not what should be". Thus putting our thought processes and wishes on the market moves and deriving patterns to suit that thought process can be a sure shot way of committing suiside.