What’s going on …New phase strikes fear in heart of bears…

Posted on Mar 14, 2013 by in Letters

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p21464867259&a=214966864

The SPX here, and the Dow has been on a run of consecutive advances not seen since 1996.  What does this tell us?  It tells us that a new phase has dawned.  We would expect that anyway when a major new high is made.  But this run on top of that screams bull market.  Even Richard Russell has turned bullish.  He was practically waterboarded to admit that we are in a bull market.  Let us point out that by the rules of every system we know (especially Dow Theory) a bull market is either declared or confirmed.

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