I think you are correct in thinking that tecnicals "shouldn't" matter as much as drill cores etc. in the spec sectors, however what I have learned by reading this board is that often the tecnicals are used by market makers. The markets today are a contrived and controlled performance, choreographed by super computers trading at light speed to suck as much money out of the investment pool as possible. Where the tecnicals come in, is when the market is manipulated to produce a tecnical outcome(painting the tape) that will trigger a market reaction favourable to "da boyz." There are many computerized trading systems out there(Vector Vest etc.) that use buy and sell signals and consequently the thiefs always figure out a way to trigger those signals when they want to cover some shorts by starting a run on the stops or visa versa with the stop buys. Understanding tecnicals will not allow you to beat the market, however it may help you from falling into one of their traps.