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I had to do a double take on this - 2.76%? The NYSE bullish percent index is below 3%? below the 1987 crash level? below every single other crisis low?
The NYSE bullish percent index was introduced by Abe Cohen way back in 1955. Since then it has come to a hallowed place as an internal market measure of breadth.
The traditional interpretation is to become bullish when the index reaches below 30% and then pushes back above. Obviously we haven’t seen this yet, but still… we are lower than we have ever been.
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