Saul: The bottom hasn’t been hit. There are at least four main macroeconomic forces that favor more downward momentum IMO:
1) quantitative easing is coming to an end and M2 is likely to pressure stocks downward.
2) interest rate hikes are coming and such hikes will pressure stocks
3) summer doldrums is upon us.
4) the Buffet valuation indicator of stock market cap to GDP is overvalued.
Beyond those issues I mentioned, there are other supporting elements to a down market trend.
OTOH…if we do get a big bull run…I will now include the “Saul Index” in my analysis for the future
I’m interested in learning more about your “Saul Index”.