I agree, the markets are basically the same today as in 1995 as far as my TA goes. Sure, stocks trade much differently on a micro-level and I'm sure they are far more difficult to day trade today (for a human, not a comp) than, say, 10 years ago however very liquid mkts like the ES and SPY move the same as per my method. Some things change while some things remain the same.
Shouldn't even be a debate. Those who claim "TA doesn't work" don't understand how to properly use the tools. Why would anyone pay attention to someone who obviously "doesn't know what he's talking about"?
tell me what martin's melesa Ptr. option trade's TA. he basically said to himself " I want to buy at what price..." what he belive is the market will go up,it is cheap now. I am a successful trader. I use common sense to trade. not TA to trade. I read though Martin's pit bull manytimes, I know what he was doing is just common sense: buy low and sell high, Magic-T, just a surgar-coat for outside readers,add some mestery. METHODS can not change the market. whatever strategies like computer indicator trading, HFT, quants, ... can not change the market! in another way, methods is meaningless. it is not the key. a swimmer changes his style cannot suvive Tsumin wave! whatever styles he chooses to swim, he cannot change the wave. if FED will hike rate, no matter in what way you trade, they will hike rate. if they donot, then they do not. if you bet Fed will hike rate, and FED does. then you win. if you bet most will book profit, and they do, you win. there is no secrets in market! TA is just a stupid swimmer triesto change his style to change wave!
I figure there about a half-dozen ways to "skin the market's cat"... TA is but one. Just because you don't use/understand it properly, doesn't mean "it doesn't work".
Yet this seems to get lost on a dozen or so people here at ET. It's one way or it's no way. They can't admit that there are several ways.