Walter Murphy: We Are Seeing a Stealth Bear Market

Walter Murphy, owner of Walter Murphy Global Advisors, has followed the markets professionally for 34 years using an array of technical analysis. He believes that we are currently seeing a "stealth bear market". He

that more than one-third of the stocks in the S&P600 Small Cap Index are at least 20% below their 52-week highs. This is a potential tell that the markets are getting too overbought, and may see a pull-back soon. The Dow Jones Industrial Index is currently trading over 6% higher on the year, and has not had a triple-digit down day for all of 2012 so far.