[wcgortel]

It really depends how you use it. "Technical analysis" refers to techniques that are as disparate as "cooking". There is evidence of some technical stuff being quite valid--the relevance of momentum to returns, for example--but there are also plenty of people who misuse it.

My own view is that it's a window into the pricing process and adds depth to the practice of reading the market that many analysts go through. Ignoring technical analysis when looking through charts is kind of like watching TV in standard definition instead of HD. Even though it's kind of still the same thing, I enjoy it.