Support and resistance change places. The upper edge of the congestion zone that stopped the S&P500 declines in October 2021 and again in 2022 has now halted the summer rally.

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. ]

On Friday, the S&P500 closed below the -1 ATR, negating Wednesday's V2 trigger.  FGIC closed the week at -4 after being pushed back from its neutral zone.

Have a safe trading week,

Gianluca L.