That is absolutely correct. Firstly, technicals believe that the stock market action discounts everything. So there is really nothing that the analyst or the trader or the investor is going to know about the stock which the market does not know in its collective and infinite wisdom. All known information and all the information that needs to be known related to the security is reflected in the price of the stock. In other words, the technical analysis believes that even fundamental factors like profitability, efficiency, solvency and liquidity are all captured in those tiny and elegant charts. In fact, technicals go one step ahead. It believes that any new information or actionable data point that comes out is immediately factored into the price. Yes, as soon as new information comes to light it is immediately included in the price.