To think that any trading strategy is dead is a little unconventional. Anyone who trend follows move in one direction of the market over the years. They aren't bothered about daily or weekly movement, as long as the trend is in place. This has it's pros and cons.
Welp that depends, if you are trading very volatlie stocks, you may be wanting to look at weekly movements. Volatile / speccys can move a great deal in a week and you could lose your shirt. If a stock is going parabolic, this would be another reason.
In 2024 and beyond I bet the big investment banks are using AI to predict price movements based on prior price history, current news from different sources and quarterly reports. It's amazing that someone releases a quarterly report and seconds later it's being reported by business journalists. It's only going to get better.
See no reasons for it to be dead. Actually it is. According to my observations there are still traders who rely solely on the trend direction and some news to define whetehr there'll be a reversal or not. This is considered to be a proven strategy not for no reason, it has proved its efficiency multiple times within several decades. Many traders start off from trend following, and some of them even succeed at it. I also tried it in the beginning and of course sometimes have such a practice to follow the trend without using indicators.
@Slope Trader : it is alive, but probably not as easy anymore as just applying a 200 <whatever timeframe> on an underlying and then go long when it crosses from below, short from above. Too many whipsaws, it would not work. However, a favorite market wizard of mine (interviewed in 1992 for "The new market wizards") is still alive and kicking as a trendfollower, Tom Basso. Tom is a chemical engineer, he got hooked on the idea of using price as an analysis tool I think in 1980 - then founded Trendstat Capital. He had a superyear in 2020, around 20 markets I believe he's trading and that year meant an almost 100% return for him, in fact the best year of his career as a trader. 2021, only around 6% . He has of course an approach that is systematic, but he won't give away his edge.