After a significant consolidation period rattled by trade rumors and geopolitical fears, market sentiment and optimism has increased solidified by the record low unemployment rate. All technical indicators are pointing upwards as SPY gears up to test all time highs in the coming months.
Market sentiment is one of the most important indicators to use when trading. For example, there is no reason to be long on all positions right now due to decreasing market sentiment, and poor 1W technical indicators. Swing trading market sentiment can be very predictable and profitable, especially when combined with technical indicators. I am short the market, and think we might be in for a red summer. Either way, it will be very interesting to watch in the coming weeks.