Citigroup Analysts See a Secular Bull Market, Possibly as Soon as Next Year (and Harry Dent lives!)

They're early but the points they raise are worth noting.
A nice catch at FT Alphaville:
A tale of two stock markets

US equities could be in line for a secular bull market as soon as next year, but European stocks should be handled with care.

That is a synopsis of the latest thinking from Citi. For more details read on:

US
Citi’s US equity strategy team reckons the current skepticism towards equities, as reflected in flows out of stocks into bonds and general pessimism towards the stock market, is overdone.
Indeed, it offers three reasons why a secular bull market could emerge in the next year or two:
1. The new crop of retirement savers from the so-called “baby boom echo generation” will enter the stock market without the wounds or baggage of their parents (some of which got burned).

2. It is “highly likely” that the US will have to deal with its fiscal issues by 2014, which should remove a major factor that has restrained stock valuation due to a heightened inherent equity risk premium. Bond markets will force a resolution if politicians do not address the problem before then, Citi predicted....MORE

Mr. Dent made himself a lot of money pitching the demographic angle. We've seen him a couple times over the last two months after not having a sighting in years.

Aug 22
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Oct. 3 
Harry Dent: "Dow to 3000-5000"