In the introduction to the last Bull Bear Market Report, I further developed the thesis that an impulsive equities bull market began in November 2012:

Most analysts continue to make the mistake of believing that a secular bull market started in March of 2009. The actual situation of this market very closely parallels the 1974-1982 time frame. While the price bottom was made in 1974,…

In the March 10 BullBear Market Report, I concluded that the US equities markets had ended the long term bear market that started in 2000 with the November 2012 low and had begun a new, secular bull market:

This report comes down on the side of concluding that indeed a new, secular Bull Market has begun. While there is still some chance that a bear market (D) wave…

The last BullBear Market Report concluded that:

a new, secular Bull Market began in November 2012. While there is still some chance that a bear market (D) wave top could come in the vicinity of the 2007 highs, evidence is mounting that the 2011-2012 period was a stealth (E) wave ending a long term triangle and that recent price breakouts and changes to the technical character of the market mark the start of a very long term Major (V) bull market...

My current analysis…

One of the factors that might temper long term bullishness with regards to the current US equities market is that there currently appear to be no leading, dynamic economic growth sectors.  In the early stages of a secular bull market, however, the dynamic growth sectors that will lead the advance are often unclear or unknown.  The picture may be starting to clarify itself.  One area that appears poised to take off and add a dynamic growth component while reducing costs throughout the economy…