I really like your quote that “technical analysis is like cloud reading just less accurate” and I totally agree with you. News have the strongest effect on markets. But that’s were the abuse happens.
If some very powerful people wish the markes to head in a specific direction just spread the news which fit. And people believe these trashy, manipulative, propaganda news.
There’s another great saying “If you’re not reading the news you’re not informed. If you’re reading it you’re wrong informed”.