Some people are nervous about the market, even after the tariff deadline has been pushed back.
Here’s SPY:
But it’s sitting nicely above the 200-day moving average.
Is it heading back down? Or is it gathering energy for another big push upward?
Well, if we look at sentiment, the answer seems to be more bullishness.
The Fear & Greed Index is up again and is now in extreme greed territory:
And semiconductors have been flying also.
Here’s the chart on SMH (the VanEck Semiconductor ETF):
It’s been roaring since a low in April. And with SMH, we don’t have to worry about picking the exact right semiconductor stock.
A break above $285.20 could lead to a monster move.
We’ll keep an eye on it.
Happy trading,
Scott
