Here is one reason why this bear finds difficulty believing top to the post-March '09 bottom, counter-trend rally is in...
Underlying conditions presently in the world of various McClellan measures are rather same old, same old relative to performance since March bottom, suggesting that, but another bounce might soon develop, taking major indexes still higher (however slightly).
Nevertheless, it seems some added McClellan deterioration should be in store were the market's ongoing, seven-month-long counter-trend rally, indeed, nearing completion.
Here too we see underlying technical conditions, though weakening, still positively disposed. However, the picture here also finds things at an inflection point where further deterioration indicative of a counter-trend rally nearing completion reasonably might be expected.
A lousy finish today ... and with RSI solidly on the sell-side of its balance. This was not how I thought sideways action would proceed. So, that further, underlying technical deterioration one might expect at this point could, indeed, be imminent.
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