Incredibly, less than 1 per cent of stocks were trading above their 50-day average just two months ago. Photograph: Spencer Platt/Getty ImagesA two-month gain of 19 per cent may seem unsustainable, but multiple indicators continue to suggest this is a healthy market rally.
That’s a significant number – according to Todd Sohn of Strategas, every major market low over the past 50 years has been marked by that metric exceeding the 90 per cent level.