% of stocks above 200 moving average (SPX)

414
This indicator anticipated the fall of the SPX well in advance, according to the yellow line on April 12, 2021.
Showing a clear divergence.
As SPX went up, the indicator went down.

Only on January 10, 2022 was there a trend reversal in SPX, going down.

Now the indicator appears to be anticipating a rally.

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