First, the data is lagged. It does not arrive at the technical analysts desk in a timely fashion. Second, the data is not always sufficiently detailed to be of much use in technical analysis. Third, it doesn't give the user a good idea as to where the money is going. It is much better at describing where the money is leaving.
Some technicians believe that looking at liquidity in the banking system is a superior approach.
As this measures pressure on the banking system and the entire economy. Market Indicators Technical analysis is mainly concerned with market indicators. These technical indicators look at the trend of price indexes and individual securities. They evaluate the position of the security or index. In technical analysis we look for divergence between indicators and continuity between indicators, all in an effort to determine the validity of a trend.