Too Few Stocks Rebounding From Rout for Chart Gurus to Calm Down
- Equity gains since Feb. 8 are impressive, but breadth is not
- Analysts waiting for buying thrust to confirm market’s bottom
BlackRock's Moore Says Investors Have to Rethink Safety
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As reassuring as the stock market’s recovery has been from its February selloff, not everyone is sleeping comfortably.
Take analysts who monitor charts and say a hallmark of past rebounds has gone missing in this one. To wit: while the S&P 500 Index has risen in six of seven days and just notched its best week in five years, it has yet to see the type of cathartic buying episode that sounded the all-clear after past routs.