Some people argue that the reason financial markets follow a chaotic pattern is because of the psychology of traders. Discuss the following statement from Warren Buffett, who actually borrowed the quote from Benjamin Graham:

"The market behaves as if it were a fellow named Mr. Market, a man with incurable emotional problems. At times, he feels euphoric and can see only the favorable factors. At other times, he is depressed and can see nothing but trouble ahead for both the business and the world."

Is Mr. Market necessarily predictable (e.g. can we predict market mood swings by using technical indicators)?