Is there a key “market factor or force” ruling the market now?

www-stocktiming-com5-510x544% - StocktimingThe S&P has been climbing back after setting in a bottom in early 2009.
Since early 2009, the S&P has climbed up through four Fibonacci levels and has been moving higher after passing its 61.8% Fibonacci level.
The next most important resistance level is not a Fibonacci number, but the peak rally level that occurred on May 19th. of 2008. At this time, the S&P’s Strength is high and strong. Some are saying that the Strength is in overbought territory, but I have seen it go 60% higher than where it is now.
The point that is confusing to many, is that the market can remain overbought for a long time, and it can live with disturbing negative divergences for a long time.
Is there a key “market factor or force” that keeps the market in an overbought condition without falling, and is not seen by the general public?
The answer is yes … and as our studies have shown, it is the Net amount of Inflowing Liquidity as calculated on a daily basis. It is the reason we post daily Liquidity levels on our subscriber web pages.

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