The Fear & Greed Index value of 49 on September 5, 2024 is a point of reference using a 21.42 degree angle to November 15, 2024. On November 15, 2024, prior to the close, the index hit a value of 49.
As the S&P500 moves lower, it is expected to fill the gap created on November 6, 2024. Note that this gap does not appear in the S&P500 cash futures market.
A closer look at 15-minute charts shows the S&P500 declined with an angle of 63.07 degrees during the week of November 11, 2024. This same angle appeared between September 3, 2024 and September 6, 2024. A move down to the 21.42 degree support line would be expected before moving higher. This is consistent with the posts on November 13, 2024 and November 14, 2024.
Note that this information is for educational purposes only and not a recommendation.
Charts courtesy of StockCharts.com.
