Charting works best when the volumes are very high, the higher the volume, the more accurate charting becomes. Indices are probably the most highest volume plays you can get, so practicing and putting your charting skills to 'better use' using indices will make you a better chartist. Small cap stocks have small volumes and can be manipulated from 'outside sources' such as hotcopper and large pumps due to unforeseen announcements. One or two people with big money can manipulate a small cap stock and make the stock jump high only to be sold down again later on. These are some of the factors that I believe charting isn't of much use in small cap stocks whereas understanding it's fundamentals can be of better use.
Indices cannot really be manipulated and it's charts is as pure as you can get. I think you may be putting too much effort into charting small companies where you should be focusing more on fundamentals because charting for small caps can be skewed
