We found another breadth thrust extreme that suggests the market should see new highs in 2019, and any pause in the upside should be temporary.
On Friday, 92% of the S&P 500 (SPX) stocks traded above their respective 50- day moving averages (Figure 1). Since 1990, there have only been 14 prior occurrences when you remove multiple signals within a month, and we would highlight the following:
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