NHNL is very low, similar to 1973 and 2008. Those Bear Markets continued until CAPE was significantly reduced.
Date [SMADiff] [NHNLDiff] [BCC] gSPY CAPE EG inflation PH98 prevBCC action sbqGain sbqBars Gain21d Gain42d
19730605 -0.29 -9.10 0 63.35 15.8 9% 6% 0.877 4 sell 2% 31 -3% 2%
19730719 -0.21 -0.34 2 64.63 15.9 11% 6% 0.927 0 buy 0% 10 -4% -2%
19730802 -0.07 -0.52 0 64.79 15.3 11% 7% 0.928 2 sell -1% 24 -2% 3%
19730906 -0.53 -0.23 2 64.19 15.5 13% 7% 0.937 0 buy -2% 4 5% 1%
19730912 -0.54 -0.44 0 62.94 15.5 13% 7% 0.926 2 sell 3% 5 8% 3%
**19730919 -0.61 -0.08 2 64.72 15.5 13% 7% 0.952 0 buy -9% 133 4% -1%**
**19740329 -0.45 -0.46 0 58.61 13.3 14% 10% 0.878 2 sell -20% 198 -4% -6%**
**19750110** -1.39 -0.37 2 46.91 **8.9** 7% 12% 0.965 0 buy 134% 1675 8% 16%
20080303 -7.43 -5.91 0 2472.14 22.6 4% 4% 0.852 4 sell -2% 114 3% 6%
20080813 -12.33 -0.32 2 2418.24 21.4 -20% 5% 0.901 0 buy -1% 4 -2% -22%
20080819 -11.77 -0.78 0 2383.40 21.4 -20% 5% 0.888 2 sell -33% 156 -5% -25%
20090402 -27.59 -0.28 2 1605.72 **15.0** -87% -1% 0.893 0 buy 51% 622 9% 12%