Since daily FGIC reached its latest top at +11 in mid-December, S&P500 has gained an additional 7%, while FGIC is now at the lower end of its extreme greed zone.

The bars on the chart are colored green when FGIC at is at +8 or higher (Extreme Greed).  They will be colored red when FGIC is at –8 or lower (Extreme Fear).

[ Please follow these links: original and update explanations how FGIC works. ] 

While NH-NL divergences have been negated last week, FGIC continues to diverge in all the timeframes, except for the quarterly.

Have a safe trading week

Gianluca L.