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To piggy back off a great chart posted by @howardlindzon, NYSE McClellan Summation Index Crossed above 1000 in June. Going back to 1970, here are all other Instances in which that happened and what it meant for stocks going forward $SPY (1/n)
We saw SEVERAL historical signals in March-June.... It has been a busy 3 months, so to remind ourselves the bullishness of some of these signals, here's one that also Fired in June: Ratio of NYSE Adv/Dec Issues 10 Day MA crossed above 2, Which practically has NO Neg Returns (2/n)
Also in June, we had a breadth signal, only seen in Bull Markets: $SPX crossed more than 10% above its 50 Day Moving average. 60 days and 1 year out, going back to 1975, there are no negative returns $SPY (3/n)
This was Signal I shared in April, Historically rare and Very Bullish: SPX BREADTH MOMENTUM OSC, CROSSES UP THROUGH -150 and >1% rtn 1 day after.. Practically No draw Downs. $SPY (4/n)
A slight error was made in the 1st chart posted, 1 year returns were calculating, 62 Weeks, not 52 Weeks $SPY Thanks @sjcapital (6/n)
In June, we also saw %NYSE Stocks above 50 day moving average Log 5 consecutive days >90%... There are no negative returns 60, 130 and 255 days out. $SPY (7/n)
To wrap this up, I shared this over the weekend.... From an opportunity cost perspective, stocks are by far the best choice over fixed income (end)
Here's a thread from June showing even more historically rare signals seen in March, April and May.
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