The move on Friday, May 31, 2024 was a culmination of the following factors:
- 7 figure block trades crossing the tape on 5/29, 5/30/, and 5/31/2024
- The Fear and Greed Index being in a position similar to where it was on January 19, 2023.
- No Dow or S&P500 futures gaps in their 5-min charts above the close on 5/31/24
- One small gap remains in the NASDAQ futures 5-min chart on 5/28/24 above 18,942.
A brief move upward is expected before a decline is initiated.
Stock charts courtesy of StockCharts.com.
