S&P, NASDAQ just under 1% from All time high
The S&P 500 and Nasdaq (including NDX 100) are trading less than 1% below their all-time highs. Market sentiment turned bullish this morning, with the CNN Fear & Greed Index at 56 as of 8:30 am, indicating more greed than fear among investors.
We are now anticipating the next significant catalysts that could sustain this trend. These catalysts may include Nvidia's earnings report and the release of the Fed minutes, both scheduled for next week on May 22nd.
From a technical standpoint, the indices are trading above their moving averages and have found support following the recent correction. However, trading volume remains weak for the S&P 500 and NDX 100.
We are now anticipating the next significant catalysts that could sustain this trend. These catalysts may include Nvidia's earnings report and the release of the Fed minutes, both scheduled for next week on May 22nd.
From a technical standpoint, the indices are trading above their moving averages and have found support following the recent correction. However, trading volume remains weak for the S&P 500 and NDX 100.
Trade closed: target reached:
Indices finally closing at all-time highs. RSI expected to soon surpass 70, indicating overbought conditions with Nasdaq at 67 and S&P at 69 on the 1-day chart. Fear & Greed index at 62 (8:30 am) this morning. Investors showing increasing greed.