"A widely watched indicator that has worked 16 out of 17 times in the postwar era has sent a buy signal," says David Wilson on Bloomberg.com. The Coppock indicator was developed by economist Edwin Coppock in the 1960s when the Episcopalian church asked him to develop a tool to spot long-term buying opportunities.
The indicator is based on the difference between an index's value at the end of a month and an average of its closes 11 and 14 months earlier. He had been told that mourning periods last 11-14 months and thought the shock of a bear phase was comparable to bereavement.
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