I have no doubt that the market is influenced by technical considerations. All day long in all different stocks, there's someone identifying the 200-50 moving average convergence/divergence patterns, and someone else finding narrowing trendlines approaching breakout, and all of them basing their trades on this.

What I doubt is that any of this is useful in predicting the future price of anything. So, please, answer the question in my original post: why don't we see one (or many) funds which strictly exploit technical analysis?

Certain trading strategies which do not depend on fundamental analysis may be able to be successful. However, these strategies depend on knowledge of how other major actors in the market will behave, or on very rapidly identifying arbitrage opportunities. None of them explicitly base their decisions on rules such as avoiding stocks below their 200-day moving averages, or shorting stocks which have broken the neckline on a head-and-shoulders pattern.