Great Rally again, S&P 500 now above its 50 dma

This is huge folks, The S&P 500 has recaptured its 50 day moving avg ( 50 dma ). The last time it did that was in early Jan. It was above it for a few days and then fell hard.
This time around thing are almost similar , low volume, bullish sentiment etc. But the momentum is surely better.
The p/c equity ratio is very low but the index part of it is not very low now.
The markets are stretched of course but that does not mean they will stop rallying.
This month is the first 5% month since Dec 2003, yes that's 62 months.
Read more about it on Barry's site here.
Does this prove that the markets have bottomed? I do not think so. Read about it , a bit more, here.
Also there is talk that since the markets are up more than 20% from their lows, that suggests its a new bull market.
That thinking is just wrong. Bear market rallies are sharp and short.
I have seen a chart where from 1929 to 1932 the markets rallied an avg of 20% half a dozen times.
Next month is earnings month. The earnings have to be real good for the rally to continue.
If they just meet expectations then we see declines.
But this month might close strong so do not be surprised to see some more upside .
I will make small trades till we see some moves on good volume.