The S&P 500 is now -3% below its all-time high.
Last month it was -18% below its all-time high.
These quick recoveries tend to see stocks rally more over the next 3-12 months.
Momentum is strong.
Yesterday saw a DeGraaf Breadth Thrust (55%+ of S&P 500 stocks hit a 20 day high).
3 weeks ago we got a Zweig Breadth Thrust.
Here's what happens when we get both Thrusts within a month of each other:
NASDAQ 100 is on track to climb above its 200 day moving average for the first time in 2 months.
Tends to be bullish for stocks over the coming months ⬇️
More than 96% of S&P 500 stocks went Up today.
This is the 2nd day of strong breadth in the past 10 days.
Could lead to a pullback, but the S&P was consistently higher 2 months later ⬇️
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