June 22, 2023

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Fear Evaporates

Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

• The stock market is driven by the emotions of fear and greed.
• Fear has evaporated and greed has taken over.
• The chart shows an extraordinary event yesterday in the stock market.
  • Wall Street’s fear gauge VIX typically goes up when the stock market falls, especially when popular stocks are hit.
  • The chart shows that yesterday VIX went down as S&P 500 ETF SPY and Nasdaq 100 ETF QQQ went down.