How can you even claim that technicals matter?

Ya, like a booster rocket

 

Tradable circumstances happen all the time. Waiting or anticipating news to trade before the move happens is wishful thinking in the least.

 

Also, some actually wait for the news to be release or wait for breaking news causing increasing volatility in the markets and then react to the news although they're really reacting to whatever trade signals show up in reaction to the news.

wrbtrader

 

The events you mentioned are random and unpredictable. No amount of fundamental analysis could have predicted them. Your question is a very good argument against the fundamental analysis.

Of course it doesn't make an argument for the technical analysis - most of it is mumbo jumbo akin to astrology, numerology, coffee grounds, Tarot cards or just some "mystery of the universe" like using Fibonacci sequence.

However, price is the only objective information about the market and there is some useful technical information based on price like volatility and trend. And they matter a lot.

 

In addition to volatility and trend, what about volume?

 

So they wait for an overbought or oversold in reaction to news?

I actually did this once in Forex.

 

That's just mean reversion strategy or fading.

 

It was based on news. Thinking people overreacted to an attack on Saudi oil facility.

 

He did.

I agree that sometimes news follows markets ... and from time to time it leads markets. The examples I listed above are extreme cases where I believe news would lead markets.