Bear Market Rally??

Are we in the bear market rally? I'll use today's strength to sell before the close today if the strength fades. Here is the interesting article from Trading Market:

All The Signs Of A Bear Market
Thursday June 15, 8:48 am ET
By Gary Kaltbaum We think conditions are such that a bear market rally is in order. We say this for one simple reason...world markets, major indices, sectors and stocks are extended and stretched about as far as they will go. We are not saying one will occur. We are saying that the conditions are now there. How long any rally lasts or how far it goes is another story. Our best guess is that the S&P 500 now has a wall in the 1245-1260 area and the DOW has a wall in the 11,000 area. Lastly, the most stretched and extended areas are the COMMODITIES and the EMERGING MARKETS. We expect the most violent reactions to be in these areas.

Other notes:

One of the most important areas of the market...the BIG FINANCIALS have now topped and are already rolling over. This is huge because this area makes up a big part of the S&P. Just another area to say bye-bye as it will now join the rest of the misery to a certain extent. Just look at these charts.

We had told you that BONDS were in an overall bear market but in a near term bounce. Odds now favor that the bounce is over.

The last of the leadership in names like (NasdaqNM:BIDU - News), (NYSE:HANS - News), (NasdaqNM:NTRI - News), (NasdaqNM:SHLD - News) are now going by the wayside. This is just another characteristic of a bear market...as in bear markets, they come get them all.

It's a negative:

That NEW LOWS have picked up dramatically.

ADVANCE/DECLINE figures remain a horror show.

Bounces cannot even last a day.

Too many people that do not understand the characteristics of a bear market continue to call for a bottom on a daily basis and continue to tout new stocks that are obliterated days later.

Companies that are raising their estimates rally for an hour and then head south. Good news is bad news.

The Federal Open MOUTH Committee cannot keep their jaws shut. We know...THERE IS INFLATION. Thanks for reporting the news. But more importantly, economic growth is falling off a ledge...and the market is begging them to realize it.