More than half of stocks are recovering

The S&P 500 put another notch on its recovery belt on April 17 when it overtook its 50-day average. Now, more than half of the stocks in the index have finally closed above their own 50-day averages for the first time in more than 2 months. In a premium note, Troy shows that this has led to mixed shorter-term returns, but a year later the S&P was higher all 6 times since 1990. Many times, it was a rocky path, but it's a good interim step in the recovery process.