'Big bear market' lasting until August appears to have begun, says market timer McClellan
By Tomi Kilgore
He has been bearish for long-term trading styles since Feb. 28.
McClellan also pointed to the continued underperformance of high-yield corporate bonds, which he sees as a warning sign of a liquidity crunch that could weigh on equities.
More specifically, he said that while the line tracking the net number of New York Stock Exchange’s advancing and declining stocks recently made a higher high, the advance-decline line for high-yield corporate bonds is showing a much weaker picture.
Source: Market Watch
https://www.marketwatch.com/story/big-b ... 2018-04-25
