Hat tip to Saurabh for pointing out Mark Hulbert answering the question is-the-bull-market-cyclical-or-secular?
Mark concludes: The bottom line? Only one of the seven foundations of a secular bull market is in place. Three more are neutral, and the remaining three are bearish.
Davis therefore concludes that we are more likely to be in a cyclical rather than secular bull market.
It is wise to be aware about different view points. I am not referring to the current rally as a bull market. I talk about an uptrend, which it is. My concern is: bull markets start slowly, but this one roared ahead.
G S Dhillon provides a method of identifying targets for stocks making new highs. His comments can be read here . It is possible to make Fibonacci projections for targets when you have a swing low and high on a chart. But what happens when you have new highs, so there are no swing points to refer. Gurvinder suggests that you use the five day high and low as the swing points. Excellent suggestion. Thanks.
microashsish asks "i what know abt gann-square of nine how it works is it feasible in indian market"
My Notes: I think you shoould start with Google search. Many software packages provide this tool and their web sites may also have some help. I am not sure how it works. To the question: is it feasible in Indian markets: my answer is: everything works in all makets. You have to use every tool in alignment with the trend or momentum, understand price flow and practice strict money management.
What of the Indian markets today? Well, the US markets did not sustain their intra day highs. We may well open higher (as the SGX Nifty + Asia suggests), but at higher levels we could easily see the kind of profit taking that the US saw yesterday, so careful at the highs.