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Pushing toward extreme greed
The CNN fear/greed index is pushing towards extreme greed after just a month ago being within fear territory. The bullish animal spirits have prevailed as we saw a softer tone from Chair Powell driving risk appetites, particularly in lower quality stocks, to very high levels.
From CNN, "The Fear & Greed Index is a compilation of seven different indicators that measure some aspect of stock market behavior. They are market momentum, stock price strength, stock price breadth, put and call options, junk bond demand, market volatility, and safe haven demand."
Thanks Mayhem. Interesting to hear aspects of the rally described as healthy in terms of breadth. That was helpful for me - as so many aspects of this rally look deeply unhealthy and I find myself tempted to jump the gun into shorts.