Nobody can predict the markets (share, commodities, currency).
But with technical tools, one can forecast the trends in certain accuracy. But then again, when different people use different tools, the results can be totally opposite, then, it will be based on the accuracy of past trends of the techical tools. Even using the same tools, sometimes the readings may be different due to the input is different, the starting date of the data or info used.
A simple example is, when you start buying Bershire shares about 10 years ago (1999 to 2009), your yield would be even less than 10%.
As for normal economists prediction based on corporate earnings and economic indicators, normally they are rear mirror readers due to the fact the share markets are influence by more than just financial indicators, it has to go beyond that, what about liquidity, what about political, what about social mood, what about technology.
Not many predicted the Great Depression in 1930s? Not many predicted the global meltdown in 2008/2009 in US and Europe and Asia. Not many predicted the Asian 1997 crisis.
Technical tools are useful if they are tested and have high degree of accuracy.
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