Technical analyst Jeff deGraaf (Renaissance Macro Research) has been Institutional Investor's top-ranked technical analyst for the last 11 years

He is not bullish on US stocks. This piece in Bloomberg quotes him:

"This entire 150-point rally has been one of the weaker rallies in my 25-year career"
Investors should "fade this breakout," he said. "We appreciate price momentum, but it has to be contextualized."

deGraaf cites concern over low volume on the recent push up, and more:

  • The number of rising stocks outpaced those falling by 4.7 to 1 ... but the ratio of their trading was "astoundingly lighter", at 3.6 to 1
  • Breadth weak, proportion of stocks hitting 20-day highs is at 35% .... "a far cry" from the 55% that suggests a lasting bull market
  • % of stocks signaling "overbought" vs. "oversold" hit 52.4

More at the link, above