Stocks Surge, but Was it Enough for a Breadth Thrust?
Short-term breadth became oversold on April 4th and stocks surged on April 9th with SPY gaining 10%. SPY then fell 6.5% into Monday and became short-term oversold again. Stock rebounded on Tuesday with SPY gaining 2.6%. Trading is very choppy, but SPY is currently experiencing an oversold bounce. This is still considered a bear market bounce because the market regime indicators are net bearish and we have yet to see a bullish breadth thrust.
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