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Crypto tokens remain in pursuit of all-time highs while TradFi indices set new ones! The Risk Rally continues, but how long can it last?
The S&P 500 (SPX), an index of the 500 largest stocks trading on US exchanges, has now closed out 16 of its last 18 weeks green, with the near uninterrupted 25% bull run since late October providing strong confirmation for the broader market’s risk-on appetite.
While the rally has certainly impressed, the weekly SPX RSI indicator currently reads 76. The last time RSI reached such overextended levels on a weekly basis was just prior to the COVID crash in early 2020.
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