Here at MoneyScience I've tended to steer clear of Technical Analysis related articles and approaches for the simple reason that such a high proportion of our users are academics or financial market practitioners who I'm convinced remain deeply skeptical about it - and as with all things I like to take the path of least resistance.

However David Waggoner, who runs TheMarketDetective.com (and tweets over @MarketDetective), recently sent me this article, Efficient Market Hypothesis' False Reign Over Financial Markets and I figure it's time to take the bull (or should that be the bear?) by the horns and see if I can solicit some opinions on the debate from you, our illustrious user base.

To put the article in context, here are a few papers which may or may not have a bearing:

- Chris Neely's presentation 'An Academic Perspective on Technical Analysis' (pdf)
- On the Analogy between Scientific Study of Technical Analysis and Ethnopharmacology - Waldemar Stronka (2006)
- How to reconcile Market Efficiency and Technical Analysis - Alexandra Ilinskaia and Kirill Ilinski (1999)
- Technical Analysis by Martin Sewell (pdf, 2008)
- The Technical Analysis Challenge by Patrick Burns (pdf, 2003)
- The Profitability of Technical Analysis: A Review by Cheol-Ho Park and Scott H. Irwin (2004)
- Technical Analysis in Financial Markets - Gerwin A. W. Griffioen (2003)
- Market Timing with Candlestick Technical Analysis - Ben R. Marshall, Lawrence C. Rose and Martin R. Young (2007)
- Technical Analysis Around the World - Ben R. Marshall, Rochester H. Cahan and Jared Cahan (2010)
- Price Trends and Patterns in Technical Analysis: A Theoretical and Empirical Examination by Paul A. Weller, Geoffrey C. Friesen and Lee M. Dunham (2007)
- Market Efficiency, Long-Term Returns, and Behavioral Finance by Eugene F. Fama (1997)
- Fundamental and Technical Analysis: Substitutes or Compliments? By Jenni L. Bettman, Stephen Sault and Emma Welch (2006)

Let us know what you think!