, suggesting that the 18% rally in theThat's according to Carson Group chief market strategist Ryan Detrick,It measures overall participation among individual issues in the stock market and was developed by investor and"Winning on Wall Street" author Martin Zweig.
"Although the computation is a tad confusing, the bottom line is many stocks went from oversold to overbought in a short time frame," Detrick told Insider on Monday."This is what you tend to see at the beginning of new bullish phases." "It has only happened 14 other time since 1950 and the S&P 500 was higher a year later every single time," Detrick said, adding that both the average and the median forward one-year return was 23%. Meanwhile, the six-month forward average return after the Zweig Thrust Indicator triggered is 17%.