Uptrends are sliding back

After the surge in stocks with uptrends, roughly defined by being above their 200-day averages, Wednesday's selling triggered a pause. Now fewer than 90% of stocks in the S&P 500 are above their long-term trends. The Backtest Engine shows that when this happens, the index was higher a month later after 33 out of 41 signals. When it was the first signal in at least a year, there were virtually no losses across the 6 distinct instances. Extreme momentum doesn't die easily.