Cyclical Bull Market
New Bull? Second Leg?.....Or Bear Market Rally?
This move now appears to be a “second” leg, not an extraordinarily large bear market rally and not a new cyclical bull market.
Inside the Stock Market
Our Major Trend Index says it’s still a cyclical bull market. The market is now in final washout phase of the long complex correction dating back to late June 1983. Expect to see lows momentarily, followed by powerful upswing carrying to new market highs by summer.
Inside the Stock Market
The stock market is maybe half or two-thirds of the way through a secular bull move beginning in 1974. But the current cyclical bull market is no longer so healthy. Mutual fund mania continues - factoring in the May ICI statistics over the last twelve months, net cash flow into equity oriented mutual funds is now up 10.8% of assets, equaling the previous high-water marks of 1955-1957.
Inside the Stock Market
The stock market looks great. The Major Trend Index continues to substantiate the new cyclical bull market case. The Early Warning Index of market tops is a cool and comfortable +13, -3.
Birth of the Bull
The stock market appears to have made a cyclical bear market low. The Early Warning Index of market bottoms, which turned Positive last issue (Feb. 26) has been confirmed by a move from Neutral to Positive by Major Trend Index. Equity earmarked funds should be put to work now.
Inside the Stock Market
Still a super cycle bull market, but cyclical uptrend in question. Major Trend Index still positive but has slipped badly. Early Warning Index turned Negative Dec. 21…Caution!
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March 2026 Issue
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