Our long term comments are for an indeterminate time frame, which is generally measured in months.  Determining the markets direction over long time frames is more difficult than determining it over the next day. One reason is more things can happen over the longer time period to prove the projection wrong.  Another reason is  while there are about 250 "single day forecasts" within a year. You have only 1 annual forecast over that time period.  This means you have fewer samples to analyze, which has a very strong negative impact on reliability.