$SPX - Extreme Fear in Market Momentum

SmartReversals
11-11

$.SPX(.SPX)$ - Fear in the overall Fear & Greed Index - Extreme Fear in Market Momentum

Market momentum is a component of the Fear and Greed index, it tracks the price distance from the 125 moving average, the most significant peaks have ranged from 6.4% to 11.4% gap between the S&P and this line.

Current status: 8.3% gap with technical exhaustion.

Why the Fear and Greed is not at extreme level? because the McClellan summation index is falling, setting a divergence.

Can the index move up for another 2% gap? Maybe, but the $Cboe Volatility Index(VIX)$ looks bouncy, and if it happens without a healthy pullback, the seatbelts should be fastened.

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CPI Meet Estimates: Another 25bps in December?
US CPI is 2.6% in October from 2.4%, while the core CPI is holding steady at 3.3%. Interest rate traders have currently raised the probability of another Fed rate cut on December 18 from about 58% earlier on Wednesday to around 80%. ---------- Is another 25 bps in December? How do you expect the rate cut?
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