$SPX Retreat From ATH, Next Target $518? Momentum & Sentiment Check

TechnicalHunter
05-24

$SPDR S&P 500 ETF Trust(SPY)$ $SPDR S&P 500 ETF Trust(SPY)$ Right back to previous ATH level $524.

If this ends up defending we may shake out those bears again and continue higher to $532+

If not we'll see $517& $514.

Check the market momentum and sentiment before you making a decision.

$Cboe Volatility Index(VIX)$ is rising!

Fear and Greed data:

Put and Call Option ratio

Market Momentum:

It’s useful to look at stock market levels compared to where they’ve been over the past few months. When the $SPDR S&P 500 ETF Trust(SPY)$ is above its moving or rolling average of the prior 125 trading days, that’s a sign of positive momentum. But if the index is below this average, it shows investors are getting skittish. The Fear & Greed Index uses slowing momentum as a signal for Fear and a growing momentum for Greed.

And the Put/Call ratio,

Market Pullback Begins? Sell or Hedge?
After reaching a high of 5341, the market began to pull back, closing at 5266 points last night. ---------------------------- Having reached the target ahead of schedule, what will happen in the market in the next 7 months? Following the new high in May, where will the market retrace to next? Will you sell stocks to take profit or hedge? Or will you hold firm?
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