Actually, I have "Bull Market coefficients" and "Bear markets coefficient", I am still using bear market value, since my model requires major indices to be above 200 DMA for 4 months before I switch modality. So yes, it could be we are in a transition stage and more stretched values should be the norm. Right now, I prefer to stick to the game plan instead of guessing when to shift. Just don't get the idea that back testing make that or any other model more accurate, from time to time there will be deviations from the norm. Guessing that such is the time is dangerous, since a relapse could be severe.
Zeev
Market Data 
Markets 
AI
