20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the "Extreme Greed" zone on Monday.
U.S. stocks closed lower on Monday, with the S&P 500 and Nasdaq Composite falling from all-time highs. US stock markets recorded gains last week, with the Nasdaq gaining 1.74% and the S&P 500 adding 0.95%.
Macy's, Inc. (NYSE:M) shares jumped around 13.6% on Monday after Arkhouse and Brigade Capital increased their offer to acquire Macy's to $24 per share. JOANN Inc. (NASDAQ:JOAN) shares tumbled around 44% following a Bloomberg report stating the company is contemplating a bankruptcy filing to restructure its debt and regain financial stability.
Most sectors on the S&P 500 closed on a positive note, with utilities, real estate, and materials stocks recording the biggest gains on Monday. However, communication services and consumer discretionary stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 98 points to 38,989.83 on Monday. The S&P 500 fell 0.12% at 5,130.95, while the Nasdaq Composite fell 0.41% at 16,207.51 during Monday’s session.
Investors are awaiting earnings results from Nordstrom, Inc. (NYSE:JWN), NIO Inc. (NYSE:NIO), Target Corporation (NYSE:TGT), and Ross Stores, Inc. (NASDAQ:ROST) today.
At a current reading of 78.8, the index remained in the "Extreme Greed" zone on Monday, versus a prior reading of 78.2.
What is the CNN Business Fear & Greed Index?
The Fear & Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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