Buy Signals

These charts can often be very useful in thinking where we are in the inevitably rhyming cycles.
From Hartnett (Merrill Lynch Strategist) via themarketear.com.
“His reasoning regarding the oversold entry level is basically buying some 20% below the 200 day moving average: currently at 3374. This has worked over the past century (except 1931/37/74 and 2008). He adds: “…monster undershoot requires monster credit event & recession”.”