Leif Peterson submits:There are several indications for an oncoming bear market. First and foremost, the daily Ichimoku cloud indicator produced a strong sell signal (chart below, yellow box) for the SP500 (^GSPC on Yahoo) last Friday, July 2, 2010. You can also note from the Ichimoku chart that the SP500 is trading below the cloud, which indicates a bearish bias in the long term. In the intermediate and short term, the market is trading below both the Tenkan-sen (9-day turning line – “TL”) and the Kijun-sen (26-day standard line – “SL”). Thus, every indication from the Ichimoku daily chart is that the market is very bearish, so long traders should be cautious. Complete Story »