Do indicators still matter with this kind of price action?

It's getting harder to justify the obsession with every single economic data point. We see moves like $QQQ dropping -1.52% today, bouncing between 724.6 and 731.91, or $AUDNZD doing its own thing at 1.21472, and you have to wonder how much of this is genuinely driven by a nuanced understanding of CPI vs. just pure sentiment and algos pushing levels. Are we just chasing ghosts with NFP numbers when the market's already priced in three different scenarios by the time the data hits the wire? I'm increasingly leaning towards the idea that the immediate reaction to these announcements is more noise than signal.

Frankly, I think too many people get hung up on what some government agency says, rather than what the market is actually doing. The narrative changes daily, but the charts often tell a simpler story if you're looking closely. I get that they provide a framework, but how much is that framework actually dictating the short-term? Tell me I'm wrong; I'm curious to hear the counter-argument.