Looking at the S&P 500 since 1950, SentimentTrader applied the following parameters: that the index experienced a more than 20% decline , and that the index then went on to trade above its 200-day moving average for 18 consecutive days.The S&P 500 traded higher three, six, and 12 months later 100% of the time, with a median gain of 6.3%, 11.1%, and 19.9%, respectively.The S&P 500 never went on to make new lows, or even test its bear market low.
The thee prior times the S&P 500 generated this bullish signal was July 2020, August 2009, and May 2003, all dates that ultimately proved to be a good time to buy stocks.
Fool me once….
Are we supposed to be taking advice from the mooch now? Is this after we've already invested all our money into crypto using sport and movie stars?
Scumucci
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Source: Cointelegraph - 🏆 562. / 51 Read more »