88.82% of stocks on the NYSE are now above their 50 day moving averages. This is a truly ridiculous level for a Bear market... and it's been like this for quite some time...
Wednesday, June 3, 2009
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So it's a bit more proof that the "truly ridiculous" does occasionally happen. IMO it would also be "truly ridiculous" to heavily short this market...all 'ridiculousness' not withstanding.
On the Nikkei long term chart, there were a couple rallies that were over a year long (I think it was like 2 years) before diving back down.
Not saying that will happen, just pointing it out.
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