&quot; weak form of the efficient market hypothesis which states that: future prices cannot be predicted by analyzing prices from the past ...&quot;<p>No.  That is the <i>consequence</i> of the efficient market hypothesis being true.  The hypothesis itself is subtly different.  Though most people miss it:<p>All information from past prices is in current prices.<p>That is a better formulation.<p>I spent five years studying it and I think it is robust if you remember that it takes time for information to be consumed.  That is why HFT works, because it acts before the information can be processed.