Question on the mind of everyone assoicated with the stock market.
The answer is an emphatic NO . Perhaps no one can better explain the long term internals than Mr C T Rameshraja who runs the webportal http://www.greatcalls.in/. He has writen a thought provoking article on the rally of 2009. The article can be accessed here (Note: You might need registration on the site to view the content).
Those who do not know Mr. RameshRaja, he is one of the very few analysts who successfully called the bottom as well as top of brevious bull maket. I have had the pleasure of knowing him for the past 7 years.