Market Timing Signals Short-term Signal: Sell Long-term Strategy: Sell the rallies All signs are pointing to an imminent market top. Sentiment indicators are as bullish as ever since the start of the bear market in October 2007. Technical indicators...

Hugh Cleland made an interesting observation about recession and the stock market. He noted that the NBER start date of the recession in 1990 coincided with the top in the S&P 500. Using this relationship, he conjectured that the market top in October...