A Market View From Happy Hour - Raise Those Stops
Portfolio Pulse from Joe Benjamin
The market is close to being overbought, with the RSI over 60 and the VIX nearing new 52-week lows. A downturn may be imminent, and raising stops is recommended to protect capital. Tomorrow's economic data on May jobs and potential progress on a US Senate debt limit bill could impact markets.
June 01, 2023 | 10:54 pm
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The market is nearing overbought territory, with potential downturn imminent. May jobs data and progress on a US Senate debt limit bill could impact SPY in the short term.
The article mentions that the market is close to being overbought, with the RSI over 60 and the VIX nearing new 52-week lows, indicating a potential downturn. This could negatively impact SPY in the short term. Additionally, the May jobs data and potential progress on a US Senate debt limit bill could also affect the market and SPY.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100