There is an old breadth indicator that may finally confirm even tho we are no where near the price low or in time, and supporting a strong trend up from here. This type of event occurred in 2012. In 2012 sell in May was strong and after we bottomed we did not confirm a breadth thrust, but in mid November that same year we experienced another breadth and price sell off, but in early December, 10 days later, we confirmed a Zweig breadth thrust (ZBT). That rally was 1400 to 2100 or 50% in 2.5 years. As we have already had the panic crash wave, last week on Thursday May 13th we nearly gave a 10 day simple moving breadth NYSE advancing % average of less than 40%, but the big late day rally just slightly closed it above the signal level. 8 less issues up flipped over to decliners would have given the signal, but since we know now that the insiders with Jay POW knew what they were going to do Sunday evening, they had already loaded up on the Thursday and Friday big gap downs. Anyway, now a days if you see something important during the day, the Bots pick up on it before the end of the day and front run it. We are on day 4 of the potential signal today and the 4 day advancing % of NYSE breadth is already at 63%. As long as we do not have another 12% or less down day in the next 6 days and including today, this is another indicator that could confirm the trend up mid-way. There was no doubt back in January 2019 when we got the signal at SPX 2550 or 2575 depending on how you looked at it. NDX back on board after several days of digestion, and Semi's rocking. This rotation cycle day to day is just the new way to try and keep the majority of traders and retail off balance. It does not matter to the Bots. A large percentage of the buy the dippers got added to the bull market hater group since they never got back on board, and they will be part of the wave of Retail, Institutions, hedge funds, and anything that has been truly short, all start buying at once when they see the long term, mainly 200 day, turning bullish. As we have seen with AAII and Inverse share accumulation, they are not budging no matter how high we go so far. Last night the ES printed 2976 which raises the recovery rally to 37% (2174 to 2976). NQ's 42%.
Good post, although my head is spinning reading it.
