Here's yet another technical study which shows that we have been in a bear market since early 2011:
I'd been noticing relative weakness in the Midcaps so I decided to have a look. Mids cleanly outperformed SPX since the 2009 bottom but the ratio topped in April 2011, making a secondary lower high in July 2011. The bounce off the 2011 low was weak and a substantially lower high was registered in February 2012 creating a divergence from the new high in SPX. This was followed by a triple bear cross which coincided exactly with the April price top. The ratio is leading the market lower, making a lower low for the move off the April high and threatening to take out the 2011 low very soon.
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