NST, page-3

Hi Eshmun,

At a more convenient time, a better reply, but providing the forecasts you want are a mug's game.
As I argued, the market is a series of buy and sells signals. Technical analysis determines these very well as, or shortly before, they present but sometimes, long before. Fundamental analysis does not. In addition to the BHP comment there are many others. I well remember a time when the market was about to fall 25%. In a room almost full of fundamental analysts, several with PhDs, only the one tech guy present had a clue and a clear forecast.
So with TA clarity is not always there but there is a continuum as to where the probabilities sit. That is, TA provides models for the future that are refined as the evidence comes in.

In conclusion, TA is not a pseudo science. TA interprets logically the balance of all relevant opinions.  The only opinions that matter are those that drive a bid or an offer in the market, reflecting all opinions from the best to the worst. The market always knows everything, a fundamental analyst almost never does.