Is the Stock Market Overheated?

SmartReversals
05-15

It's been three weeks since the breadth thrust signal was triggered on April 24th, and five weeks since the New York Stock Exchange registered a rare bullish signal on April 9th.

Both events were analyzed in real-time, including their statistical significance, the most relevant technical charts, and setups from previous years. Since each signal, the S&P 500 $S&P 500(.SPX)$ has rallied by 7.8% and 7.3% respectively, suggesting the stock market consolidated its launchpad around the $5,460 zone.

Confusion, frustration, rejection – these are just some of the reactions I've observed when this signal appears in the market. If this is your first time encountering it, I hope you quickly adjust your market perspective. It is totally human and understandable if you hesitated, in the end, such signal has happened 20 times since 1950.

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