That is, if you get enough people with enough influence (cash) all believing they can read tea leaves, and make similar movements based on that, it kinda works.
That said, there are so many different TA techniques / indicators / gurus that, for all but the most well known TA indicators (there are easily hundreds!), there simply aren't enough people trading on the signals at the same time for the same securities with enough volume for there to be a proper feedback loop.
If there was a repeatable, predictable feedback cycle, it follows that we'd all be charting it and trading off it (or backtesting with quant analysis to confirm the existence of the cycle, or having long conversations about nothing and convincing ourselves it was fundamental analysis, or whatever your preferred method of analysis is.)
This is why the counter-cyclical guys only make money when the bubble bursts. (Berkshire always underperforms in the boom, but makes it up in spades in the bust)
I think it does influence the market, but it cannot make them all profitable. Unless you think that group of TA believers act as a big pump and dump scheme (but I guess most markets are too big for that?)
He tries to obscure it a little with things like "pink sheets" and acronyms but I don't think that is intentional. I'm guessing people just don't read the original article he is defending.