TSCO - More boxes checked off in stock market bottom checklist

A stock market bottom is closer but more than half of the needed conditions have yet to be met, according to Oppenheimer. Now three out of 10 boxes in its Stock Market Bottom checklist are checked, up from just one last week, technical analyst Ari Wald wrote in a note. "While the checklist doesn’t show many indicators at a deep extreme, the checklist reflects market conditions closer to a bottom than a top, by our analysis," Wald said. "We believe such signals offer an opportunity for investors with a 12+ month time horizon, specifically those who are able to see through what are likely to be ongoing bouts of market volatility through the summer months." "Still, more is needed, including a test of (last) Thursday’s low. We assume 'W' reversals occur more often than 'V' reversals, especially without accommodative Fed intervention." Along with the VIX (VIX) above 35, the Investors Intelligence

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More boxes checked off in stock market bottom checklist