Stock Surge Set To Become Greatest Bear Market Rally In History. Sell At S&P 3,250?
BofA's Bull & Bear Indicator rose from 0.0 for the first time since late March this week, the bank's Michael Hartnett says, in the latest edition of his popular "Flow Show" series.
The barometer ticked up to 0.4 after weeks pinned at the zero lower bound (bad Fed joke).
For those curious, Hartnett notes that the past five instances of "'extreme bear' fever broke with SPX up 2.8% in 4 weeks, 4.8% in 8 weeks, but 12-week returns more mixed". The figure depicts the breakdown across five previ
But at this point, do we still call it a “bear market rally”?
How could it not try to test the lows?
Oh, well, I’m a dope. I missed out on the greatest bear market rally of all time. Missed out on tons of gains. My mistake.
I too am a dope. The story is not over.