U.S. stocks ticked up Monday as investors looked ahead to a busy week of corporate earnings reports, including from some of the biggest technology companies.
Uptrends Across the Board
All four major indices – S&P500, Nasdaq, Dow Jones and Russell — flipped UP again during the last two trading sessions. Will the indices continue to rise in May as a new earnings season kicks in?
Daily Heikin Ashi charts
Sentiment is Mixed
One way to assess the odds of a continuous move higher is to analyze the current market sentiment. There are a lot of sentiment measures out there but today I would like to focus on the sentimentrader’s Fear and Green Model as well as the Equity Put/Call Ratio. Looking at the current readings of these two indicators, we see that both of them are currently far from the complacency levels, which bodes well for a continued market strength into the summer.
Fear and Greed Model
Equity Put / Call Ratio