Does technical analysis account for macroeconomic data and debt within a financial system, and if so, how?
Technical analysis only considers the trends and patterns found in time series data (usually prices and trading volumes). It does not have direct correlations with macroeconomic data, or any other data outside of the price/volume data itself. Meaning, the analysis of the trends do not take into account interest rates, inflation, growth rates, debt levels, etc. like fundamental analysis does.
So it takes macroeconomic data into account in as much as the macroeconomic data is present in the time series itself. But it does not use any external data as part of its analysis.