“Everyone is bearish.” You hear it every day of the week. It’s right up there with “the check’s in the mail” and “let’s do lunch sometime.” It simply isn’t true by any measure, and rightly so. The number of stocks above their 100-day moving average is about 85% (effectively…………everything) with a ticker symbol).
Here is the even more demanding % above 200-day moving averages, and even here we have almost three-quarters of all stocks ABOVE their very slow moving average. Pretty much everything has roared sky-high.
Take a look at the multi-decade picture. Seems kind of nose-bleed-y, doesn’t it? Everyone is bearish my ass.
