having worked at investment banks I can assure you they are more focused on risk models and fundamentals than technicals. It is such a small part of their trading its almost not worth discussing. Where has the author has sourced the info regarding investment banks and their use of technicals, is it just an assumption! they do put out technical analysis for clients but I have been very close to those teams across several investment banks and it was more of a public display than anything else. They tend to use junior analysts for this as well, people that don't trade for a living.