I think they are. My main reason being that one guy who has been predicting a crash for over three years now
thinks we rally. As this guy so far has been 100 percent wrong about just about everything the stock market has done in the last few years I say take him as a contrarian indicator
His name is Machugh over at /www.technicalindicatorindex.com/
I have followed him for years and no disrespect to him but IMHO techinical analyses in a free market would work.
Since 2008 it has been anything but one. Indeed hardly any technical indicators have worked as the money printing trounced them. He says we do not have a Hindenberg Omen thus we cannot have a crash.Well since last year we had TWO without a crash so again they are rather meaningless
what will be the reason for a rally now?
None that i can see. To be fair he still thinks we crash next year but relying on tech analyses to see this is a fools game IMHO. If a perma bear like him thinks we rally then it really is time to get out ASAP