This jibes both with the previously referenced article and the trend of some of our own technical indicators--e.g. the 30 day SMA of NYSE adv/decline, 10 day SMA of TRIN, etc.
Again, hard to know what to make of such correlative data in the light of the predominant causative factor--governmental intervention in the markets. (Which is not to say that the fix can necessarily be relied upon either. Not enough history: it either continues to work, or it doesn't.)
Yeah, that was the general logic of a few internals or combined indicators. For instance, though I can't link to anything at Stockcharts preceded by the "index" sign ($), the Mamis a/d indicator we use, a crossover system of the the 30 and 10 day SMAs, shows another characteristic topping phenomenon: for a few months the 30 day average has been trending downwards, while the 10 day crosses over and under. The reference indicies continue higher while this goes on.
Again, I really don't know what to say about the situation except that the causative factor of sovereign support for risk capital continues to count for more than formerly-reliable correlative data or, even, the ongoing retail disintermediation from the equity medium.
Be that as it may, I'm much more concerned about the apparent failure to reign in the financial system here in the U.S.A. The oceans of commentary ink nothwithstanding, I don't understand it at all--a crucial opportunity seemingly passed over. Makes me very bearish in the long term or whatever portion of it we live to see.
Not sure I understand what's in it for much of anybody. But I expect everyone will find out in due course.