From the desk of Steve Strazza @Sstrazza
In mid-April, we posted a list of 20 key chart levels we were monitoring in some of the most important assets around the world. We’ve used this as a risk-gauge to measure the internal strength or weakness of the market in the time since.
The list started at 60% bullish, never fell below 50%, and has been stuck at 90% with the same two bearish hold-outs for the past month now. The list has grown consistently more bullish since we began tracking it as more charts continued to break above our levels.
Since the end of May, 18 of the 20 items have been in bullish territory and many have run a good amount from our risk-levels. With the strongest stocks and indexes making new all-time highs and confirming this bullish outlook, prices have spoken and it’s time we retire our bull market checklist.