Dow Futures Unstoppable and Traders are Getting Way Too Greedy

  • Dow Jones Industrial Average (DJIA) stock market futures pushed higher on Wednesday.
  • The Nasdaq is just inches away from reclaiming its all-time high in the backdrop of a global crisis.
  • Traders are now getting ‘greedy’ according to the CNN fear and greed index – a notorious warning sign for a frothy market.

Stocks continue their unstoppable rise higher, despite a backdrop of global recession, health crisis, and mass protests across America. Dow futures point to another 150 rise on Wednesday morning.

Incredibly, the tech-heavy Nasdaq Composite index is within touching distance of its all time high. There’s a growing sense of FOMO in the markets, and traders are starting to get greedy.

CNN’s fear and greed index just flipped into ‘greed’ – a contrarian indicator that suggests stocks are getting overbought. Source: CNN

The CNN fear and greed index just tipped into ‘greed’ territory, with a reading of 58. It suggests investors are getting complacent. It’s also a notorious warning that stocks are getting ahead of themselves.

Dow futures soar as Nasdaq teases all-time high

The Dow looks set to continue yesterday’s gains, with futures up 204 points (0.8%) in early trading Wednesday.

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