$SPY $Q


Fear and Greed is in the greed zone at 69. Momentum is very strong, options sentiment is strong, and premium ratio and premium trend also say the upward regime has not technically broken yet. But at the same time, breadth and stock price strength are weak. Bond and risk is also not relaxed. The market looks strong, but this strength is not homogeneous. There is an upward regime, but no breadth. There is a trend, but the lower layer is not carrying everyone. This is exactly why we see a clear divergence in the sector table and stock distribution while the index closes positive. That’s why stock selection is critical!
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