Severe market pessimism and attractive stock valuations often coincide with market bottoming

High put call ratios, a bullish S&P 500 earnings yield/10 yr T bond ratio, bearish Investors Intelligence readings, all suggest the initial stages of a market bottom. Longer-term, look for upward new high/low stock ratios, rising market breadth, and a change in overall stock leadership validate a new bull market.














Bearish Investors Intelligence readings and bullish stock valuations
often precede a future bullish environment...