Daily Report : Breadth is recovering, too; Sentiment has recovered out of deep pessimism

An increasing number of stocks are recovering after hitting a historic level of oversold in March. That is causing the McClellan Summation to curl up and new 52-week highs to outnumber 52-week lows. We also just saw a 2nd day with 90% Up Volume, a rare and powerful thrust signal.; The CNN Fear & Greed model has moved into neutral territory. Dumb Money Confidence has finally pulled out of a stretch of deep pessimism. During bull markets, this is usually a sign the worst is behind us. During bear markets, this is where markets usually run into trouble.

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