Hi Guys...amazing thread to which I would want to add some of my thoughts..from my personal experience I feel technical analysis works really well for a very simple reason that's called "herd mentality". If I have to make a buy and sell decision for an intra day trade, fundamental analysis is of no use to me!
I think technical analysis does works because:
1)Investors follow a notion that history repeats itself
2)When people have same expectations regarding a stock price movement,the security moves in the favoured direction and targets are met (most of the times)
3)Breakouts/breakdowns are confirmed by a surge in the volumes
not to forget, if you stay cautious of major events that can cause volatility in your traded stocks, technical analysis can be more fruitful for you.
Happy Trading Friends