Right Said Spread

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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.

slopechart SPX MAQQQ

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!