FGIC spent the first four months of 2021 bouncing between its neutral zone and the lower edge of the extreme greed readings, without euphoric excesses and never falling into negative territory.
Similarly, the five Spike Bounce signals that occurred since the beginning of this year, were all of the “weak” type, and only interrupted slight pullbacks.
Meanwhile, the S&P500 has risen over 11% since the beginning of the year. As long as the market continues to rise without excess, it will be very frustrating to look for reversal points.
(This article has been posted on SpikeTrade. Follow FGIC updates on www.spiketrade.com)