We saw two strong Spike Bounce signals and a new Spike signal in just four days, plus the weekly NHNL drew a bullish divergence. The bull could not ask for more.

The weekly component of FGIC (on the left pane) also traced a bullish divergence.  The faster daily timeframe (on the right) broke its pattern of lower peaks and and deeper bottoms for the first time in 2022.  It also exited its extreme fear zone.

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. ]

FGIC ticked upward this week – another bullish signal.  Note how after the previous Spike signal of May 20 (marked by a vertical S line) FGIC continued sideways indicating that that the May low would likely be retested or exceeded.

Have a safe trading week,

Gianluca L.