Another back-to-back thrust
One of the most compelling reasons to believe that something had changed came on March 25 when stocks witnessed back-to-back days with overwhelming buying interest. There have been several thrusts since then, including just in the past week. As Troy shows in a premium note, consecutive 90% up volume days triggered once again on Friday and Monday. The 5-day average of Up Volume is now 84%, the highest since at least 1962. The Backtest Engine shows that the 5-day average crossed 80% only a few times (1982-08-23, 1982-10-11, 1987-01-08, 1991-12-30, and 2011-07-01) with only the latter one preceding any kind of meaningful decline.
