What Can Be Said about the Very Long-Term Future?
Technical Analysis cannot predict the dates and values of future prices. But, it can anticipate significant events, and identify them once they appear on the charts. Furthermore, it can combine very synergistically with some fundamental analyses, such as Harry Dent Jr.'s demographic work.
Figure 6.19 is an illustration from a presentation that I gave to a group from the Boston Chapter of the American Association of Individual Investors in November of 2008.
The gray background curve is Harry Dent Jr.'s3 Spending Wave (Dent, 1993) that he constructed from demographic work to illustrate the effects of population bulges on the economy and the markets. The solid curve is the inflation-adjusted S&P ...