Econintersect: William Kurtz, founder and CEO of Candle Wave LLC, says his readings of the traditional Japanese charts for U.S. stocks finds the market has arrived at a critical juncture. Kurtz discusses some technical readings that indicate stocks could move higher and conflicting signs that stocks could be ending the big rally that started over two years ago.Kurtz finds the evidence of a top may be in the process of outwrighing the indicators for a further advance. He wrote:
It seems increasingly likely that the Great Rally is over. If, as we think, it has been a countertrend move which began in March 2009, then it will be completely retraced – at the least.
Source: GEI Investing