Daily Report : A 'double' Zweig Breadth Thrust just as we hit the worst six months; Looking backward, economic data plunge
Over the past week, breadth has skewed heavily to the upside again, triggering another high reading in the 10-day Up Volume Ratio. This comes soon after a Zweig Breadth Thrust had triggered. When stocks enjoyed a double thrust, it usually signaled an important long-term continuation, but the next 6 months are questionable with a negative YTD return through April.; Economic data that are being released now show just how much devastation the pandemic wreaked on the economy. Both GDP and personal spending plunged by the most, or near-most, on record. But the economy is not the stock market, and by the time economic data showed big slowdowns, the market had already priced it in.
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