Last Updated Mar 1, 2010 3:41 PM EST
Bartels highlights several worrying divergences. Measures of market breadth and momentum have not kept pace with the performance of popular indexes, for instance. Together they suggest that the stock market looks a lot better than it feels.
Noting, too, that stocks tend to peak in March during years that end in 0 and years with midterm elections, she said, "All this points to a deeper correction later in the year."