Many gurus are calling for steep declines ("bear market rally"). Currently:
- Our Long-term models are bearish, and
- Our Intermediate-term models are bearish.
However, interestingly, if we rally much more, our Long-term models will lighten their stranglehold on the strong short position they have held for about 1.5 years. In this volatile market, you definitely have to let the "tape" tell you the story!