Blind Squirrel, a well-known Sloper, drew my attention to a study suggesting that there was about a one-month spread between the percentage of stocks being above their 50-day moving average indicator (a figure we have in SlopeCharts) and a major NASDAQ reversal. I took a look, and sure enough, it looked that way.
Looking at just the percentage of stocks above the 50-day moving average, and using our measurement tool, we certainly seem to be at the cusp, assuming the analog holds. Thanks, Blind Squirrel!
