More highs than lows
By March 16, we were seeing washout conditions across a wide variety of securities, with more than half of the NYSE sinking to a 52-week low. Now, for the first time in a month and a half, there are more 52-week highs than lows. The only times this net figure has gone from < -40% to above 0 within 30 days were 1980-04-28, 2015-09-17, and 2019-01-08. Stocks rallied at least 6% within the next two months each time.
