Barry notes, «If the rate of change data somehow corresponds to past shifts in secular markets from bears to bulls, this is potentially a very significant factor.» (oldprof.typepad.com)
Long term, secular market advances tend to originate from conditions of excellent valuation and surmountable economic headwinds. (hussmanfunds.com)
Not only would it be starting ahead of schedule, he argues, but even at the market lows of a year ago the stock valuations were never as low as they typically get at turning points in secular market trends. (ritholtz.com)