Is a new secular bull market underway? New highs in essentially all U.S. undermine the argument from the shrinking pool of secular bears. But new converts to the bull thesis should be concerned about the valuation levels already reached.
A “dozen” major market measures have moved to new bull market highs in the last three months. But many of these have been the groups that do best when “risk” is “off,” and may be a reason “Ain’t Nobody Happy,” even in an up year.
Several independent methods are presented that seem to triangulate on the years 2012 and 2013 as candidates for another significant stock market low - - maybe the final low of a secular bear market which began in 2000?