MACD buy signals - continued

As I noted yesterday, an extremely large percent of stocks in Europe and Japan have triggered MACD buy signals over the past 10 days. For the U.S. I wrote "This indicator isn't at an extreme yet in the U.S., but will certainly spike over the next 1-3 days if the U.S. stock market doesn't crash."

This indicator is extremely high after a large stock market rally on Thursday:

When this many U.S. stocks triggered a MACD buy signal, the S&P's returns over the next few weeks and months were mixed. But beyond that, the S&P had a very strong tendency to rally over the next year. The only failed signal came after 9/11, but even then the S&P rallied further over the next 2-3 months:

This figure is equally extreme among other U.S. indices. Here's the NASDAQ Composite:

The NASDAQ Composite rallied every time over the next 6 months when this many of its stocks triggered MACD buy signals:

Readings for the Dow aren't that extreme yet, but will probably become more extreme today or on Monday:

Same goes for the Russell 2000:

Bullish over the next year: