Yesterday marked the fourth consecutive record high for the S&P 500.
But not all indexes moved in the same direction. So let’s see how the markets have been moving.
The Daily Direction
Note: The S&P 500 and the Nasdaq rose yesterday, while the Dow Jones and the Russell 2000 fell, with the Dow Jones in particular being dragged down by names like Boeing. No change in any index directions.
The Daily Nugget
Read market sentiment – but don’t get influenced by it.
All successful traders know how to read market sentiment.
But they also know how to manage their emotions so they don’t get caught up in it.
Because the harsh reality is that those who get swept up by the market’s sentiment usually also get their accounts swept away when the tide goes out.
Market sentiment is just data you use to make smarter trading decisions. Treat it as dispassionate data.
Right now, sentiment is surging with the S&P 500 hitting multiple consecutive record highs.
People are getting excited – creating opportunities for those who understand how to target the market leaders that are pulling the market up.
Don’t get caught up. Just recognize these for what they are – opportunities to keep booking gains when the market is at all-time highs.
The Traders Agency Team