Written by: Arthur Daret
5/9/2009 12:11 PM

March and April have had some very bullish undertones.

• On March 11th, there were all-time extremes in TICK, Advance/Decline, and Up/Down Volume
• March 12th there was a 30-ear high in insider buying
• March 18th saw a decade low allocation to stock assets on Wall Street
• March 19th the S&P 500 hit a low and then moved higher 6 out of 7 days
• March 24th saw a cluster of never before seen 90% up volume days
• April 6th had 4 straight positive weeks for the market after a 52-week low
• May 5th had the most overbought market breadth in 6 years

On a shorter term level, there are a lot of various sentiment indicators have coincided with pullbacks which shouldn't be a surprise at this point given how much of a move up we've enjoyed.

Arthur Daret

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