52-week high recovery
While stocks have gotten slammed in recent days, and the top-heavy rally has triggered some short- to medium-term warning signs, there are a few positive developments as well. In a premium note, Troy showed that for the first time in more than 2 months, more than 1% of securities on the NYSE managed to hit a 52-week high. While that didn't prevent shorter-term gyrations, each of the other times there was a recovery like this, the S&P 500 was higher a year later by double-digits (the dates were 1966-11-09, 1970-07-16, 1975-01-10, 1988-02-25, and 2009-04-02).
