FGIC and S&P at a turning point

On Friday the S&P500 closed at +1 ATR, a level that needs to be reached and maintained in a bullish environment.

The bars on the chart are colored red when FGIC is -8 or lower (Extreme Fear) and green when FGIC is +8 or higher (Extreme Greed).  [ Please follow these links: original and update explanations how FGIC works. ]

After the third Spike Bounce (SB) signal in December (“S” dashed vertical line), FGIC started to rally and is now at the upper edge of the neutral zone, closing the last trading day of 2021 at +2.

Next week we want to see a rebound of the S&P above +1 ATR and a breakout of FGIC into positive territory.