OVERBOUGHT STOCK MARKET REACTS TO UBER BULLISHNESS, IMPORTANT CHINA MOVE, AND SHOCK FROM GERMANY
By Nigam Arora
To gain an edge, this is what you need to know today.
Reaction Of Overbought Market
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 chart shows the stock market was near the low band of support zone 3.
- The chart shows Arora buy signals near the April lows.
- The chart shows the stock market ran up to the top band of resistance zone 2.
- The chart shows the Arora signal to take partial profits.
- The chart shows that the stock market has pulled back from the top band of resistance zone 2 as of this writing in the premarket.
May 6, 2025