From MTA:
Technical Analysis is the study of data generated by the action of markets and by the behavior and psychology of market participants and observers. Such study is usually applied to estimating the probabilities for the future course of prices for a market, investment or speculation by interpreting the data in the context of precedent.
From me:
Also, the study of 'external' to market data that shows 'high' correlation or non-random linakge with price behavior. {like natural disasters, weather, etc} ...so news reactions as a Time factor would fit in here, but of course :whistling