The Gleason report, was a study (ad hock) revealing a mechanical moving average strategy which tested successful from 1963 to 1983, was less successful or not at all, from 1983 up to 2003.
This report though not scientific by any stretch, demonstrates the evolution of price behavior over time, and the likely effect technology has in that evolution. The ability of automated systems to read the market and therefore trade it, change the market. The more systems there are, the more change occurs.
Quantum mechanics famous 'double slit' test, where merely observing an event, changed the results of the event, are another example of this principle. Automated trading systems do much more than observe the market, and so all the more change it.
This cause/effect of automated systems on the market, prove that for a system to remain successful over time, it must be adaptive, to capitalize on price behavior evolution, which would occur on all time scales.