US Stock Market Trends All Remain Up

Very Long-term trend - The continuing strength in the indices is causing me to question whether we are in a secular bear market, or two cyclical bull/bear cycles side by side.  In any case, the very-long-term cycles are down and, if they make their lows when expected, there will be another steep and prolonged decline into 2014-15.

Long-term trend -In March 2009, the SPX began an upward move in the form of a mini bull market.  Cycles point to a continuation of this trend for several more months.

SPX: Intermediate trend - The intermediate trend is still up and does not look in immediate danger of reversing.  Recent action continues to point to the imminent formation of a short-term top.

Analysis of the short-term trend is done on a daily basis with the help of hourly charts. It is an important adjunct to the analysis of daily and weekly charts which discusses the course of longer market trends.

By: Andre_Gratian
Source: http://www.marketurningpoints.com/wp-content/uploads/2011/02/Newsletter-Jan.-30-2011-1.pdf