FOMO IS EXTREME, and up until last week's AAII survey the only thing that was lacking was a bullish investor sentiment gauge to match the stock prices going nuts to the upside! Well we got that with a shockingly extreme jump in investor sentient reading that went from 29% bull to 44.5% bull in 1 week!. Normally I don't pay much attention to this, but that is a BIG JUMP! We have not seen readings as high as this since late 2001, the pumps are definitely being primed for a sell off.

Red Lights and Sell Triggers

In my last article the fundamentals flashed RED WARNING lights on key AI tech stocks that encouraged me to trim the likes of Micron hard.

AMD - 5 Red Lights

Nvidia - 4 Red Lights

Apple - 4 Red Lights

ABBV - 4 Red Lights

Intel - 4 Red Lights

Micron - 3 Red Lights

Amazon - 3 Red Lights

Which was followed by hourly SELL triggers in my market brief for Nvidia, Microsoft, META, MU, ASML, AVGO, LRCX, AMZN that still stand, so tech stocks are rolling over.

This ARTICLE is an excerpt form my recent analysis on the current state of the stocks bull market as it FOMO'd to new highs Stock Market FOMO Maniacs Rug Pull Imminent? US House Prices Trend Current Statethat was was first made available to patrons who support my work, so for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $5 per month. https://www.patreon.com/Nadeem_Walayat.

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S&P

Targetting 4500 Mid Summer 2023.

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By Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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