As I remember listening in to a presentation, technical analysis is like guessing the color of a semaphore in a street crossing just by looking at people standi

As I remember listening in to a presentation, technical analysis is like guessing the color of a semaphore in a street crossing just by looking at people standing by. If people are standing by the semaphore is very likely to be red. If people are crossing the street is very likely that there are not vehicles coming by and the semaphore will very likely be green. Same with technical analysis. You look at signals to “infer” the state of the system. I use very likely because these inferences are not a single value but a distribution of values (x% probability of being true). By no means this make it “astrology”