The FED is all that matters.
They have completely destroyed price discovery in every market.
Valuations, Earnings, Technical Analysis, Elections, War, Pandemic, etc etc are all noise.
I don't understand why you say technical analysis is noise. Even from the most basic standpoint, it's not like the market is just dropping out of no where and having big moves down, it's dropping from peaks points and often just retraces overbought levels where the market surged up in a generally unsustainable manner.
If you're talking regarding the long side, there are deviation points on every single time frame, where you should not be looking short and only looking long. So, if the complaint is the relentless bid or up moves sometimes, there is a way to trade that as well via technical analysis.
Another point is people often trade just one chart or find a strategy that is working and they think they know or have a good handle on TA, but it's only because the market is trending in one way. If your level of accuracy, profit factor or overall trading suffers when the market is overly bearish or overly bullish, than you really don't have a solid understanding of TA.
I will agree that experience matters even more these days though. As you need to recognize situations and setups on days where the bid is likely going to be consistently pulled, therefore any TA strategy to the long side is going to struggle. But that still falls back to looking at larger charts, depending upon their position this can be a big hint as to when those days are likely going to be. Which is still using TA.
Lastly not saying you're saying this, but I do see a lot of people say the action is too crazy or unpredictable. Well that's simply because there's large amounts of money being moved around and you need to know when a larger chart goes into a new sell or a new buy. In more normal markets it's rare that a larger chart goes into a new buy or new sell, most of the time it's just in a continuation buy. So, everyone can just pull up there 1 minute or 5 minute charts take a position and be reasonably on the right side most of the time. Never having to bother learning about higher time frames, because they weren't punished enough by them.
