FGIC spent another week unchanged, at its â“4 level.
The bars on the chart are colored red when FGIC is -8 or lower (Extreme Fear) and green when FGIC is +8 or higher (Extreme Greed). [ Please follow these links: original and update explanations how FGIC works. ]
S&P continues to struggle below its important congestion zone, between 4550-4600. It closed on Thursday and Friday above its EMA 21. Ideally, for a bullish scenario, we’d like to see a pullback to the –1 ATR, with a V1 or V2 trigger, while FGIC maintains current levels.
Have a safe trading week,
Gianluca L.