<pick up in demand due to expected economic recovery>
Or maybe just some risk taking coming back. Faber thinks that the first rally attempt will be a fake.
BTW, as far as I understand, J is using BPs and McClellan Oscillator to determine the momentum, and IMO this approach makes sense (can not say this about most of the TA garbage floating around). I just think that this is not a good time for momentum trading.
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