A broad-based survey of business and consumer sentiment in the euro area has just now started to improve after plunging into depression. The two other times the survey started to recover from such a low level indicated long-term recoveries in euro area stocks.; A near-record number of stocks within the S&P 500 have recovered above their 50-day averages relative to their 200-day averages. The S&P index itself has moved from more than 25% below its 50-day to more than 10% above. And the S&P joined the Nasdaq as the two indexes leading the "big four" out of a major decline.

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