Fed Speaks = Another Top?

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by SpontaneousDisorder

Just thought I’d put this here as an update to a previous post I did. Jerome Powell has testified to congress and the market got excited again. The previous post I made was when the Fed had a meeting and that timed a short term top. The Nasdaq and S&P are bit higher, the Dow lower than back then. But as we can see from the chart traders seem to get really excited about fed meetings!

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The VIX is in the low 12s and the daily sentiment index is about 70 for Monday. Investors intelligence sentiment is 52% bulls and 18% bears. So the market is still very complacent and optimistic which is compatible with a top.

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