Interesting points Maggie... I have only been in the game for about 7 or 8 years and am fortunate enough now through my work to have access to both a bloomberg terminal and various academics whom teach a variety of subjects based around business / economic / momentum algo trading and other subjects that relate to market movement.
From my relativley uneducated looking glass I personally feel that, although the various technical indicators you are talking about may work in most instances, it becomes another tool of confirmation before pulling the trigger.
I too buy loosley on fundamentals depending on the trade and timeframe but just can't seem to bring myself to let a program tell me what to buy without having a basic understanding of what it is that company does.
I have also found these sorts of programs haven't found me the 'new, ahead of the curve' Disallowed company which may have a director on its board whom is connecting their other company 'X' with company 'Y'.
for me personally it is still a research game and the TA is just a form of confirmation in which to pull the trigger with.