The sharp rally off of the March 30th low has seen the Nasdaq climb 25.9%.
In percentage terms, the Nasdaq was down 8.4% below that same moving average, which was a lot, but far from any sort of record-setting reading.
Fast forward to Thursday's close, and the opposite was true. While the index wasn't even extremely overbought, it did finish 13.4% above its 50-DMA for the most extended reading since June 2020.
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The sharp rally off of the March 30th low has seen the Nasdaq climb 25.9%. Back at the time of the low, the Nasdaq was extremely oversold, trading 2.85 standard deviations below its 50-DMA. In percentage terms, the Nasdaq was
