Discusses whether the US is in a Bull Market

The speakers in this video discuss the possibility of whether or not the stock market was entering into a new bull market during the rally in May of 2008, or whether it was going to resume its bear market.  One speaker mentions that he does not believe that to be the case and that he would like to see the market base out for at least six months and then break above some long term moving averages before he considers a new bull run a possibility.

They talk through some of the indicators that they use to track the markets, such as the advance/decline line and mention how it should be setting new highs and setting up divergences as the broad markets break out.  The opposite is happening, advancers are dwindling as the market moves higher which is a bearish sign.

He mentioned that it was time to sell stocks talk through their opinions on the oil market.  People should remain patient and wait for the right opportunity to get long into stocks.  The speaker suggested that the market was in a bear market rally and that he wanted one more strong upside burst before shorting the market.