There has not been much for bears to celebrate of late, with even the “money printing and nominal stock market gains will lead to rampant inflation” argument on hold given the recent swoons in precious metals. Nonetheless, the secular bear argument (particularly for the Nasdaq) still certainly holds true. By any historical comparison the current March 2009-present cyclical bull is maturing. That analysis does not have much bearing on our short-term trading bias, though, which is another reminder to focus on your timeframe depending on which trade or investment you are considering.
But it does behoove you to take a look at some issues potentially putting in long-term tops after sustained, steep, multi-year bull runs. Below are two weekly chart examples.
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