Market conditions for most of 2019 are about as bullish as we've seen in the approximately six years we've been trading with Chaikin Analytics.
Our experience with extended market runs teaches us that Chaikin Power Bar ratios reaching over 2.5 warrant some caution, as the combination of positive technicals and fundamentals starts to peak across the broadest array of large cap stocks. Notice that ratios tend to hang out between 2 and 2.5, as stocks grind higher for a few weeks/months before reversing. Once the power bar differential on SPY gets above 3, we have approached in intermediate market top.
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