A valuation indicator maintained by Value Line, Inc. rose to the 100 level that marked the last three significant stock market bottoms.
Those were the bottoms in October 2002 and March 2003, and the panic low immediately following the 9/11 terrorist attacks.
What is this indicator from Value Line? It is a single number, representing the median of the projections made by Value Line's analysts of where the 1,700 stocks they closely follow will be trading in three to five years' time. Followers refer to this number as the VLMAP, which stands for Value Line's Median Appreciation Potential.