Is it correct to conclude that technical analysis of individual securities is a completely different science than for ETFs? For example, if an ETF is going sideways, it could mean that half of the holdings are skyrocketing and half are tanking, thus creating a sideways average. This would have nothing in common with the analytical conclusions one might draw from an individual stock moving sideways. I haven't seen a distinction between technical analysis of individuals vs ETFs but it seems very unlikely that they would behave graphically the same way for the same reasons beyond overall market trends. Anyone know of a resource that expands on this idea?