I am using a proprietary indicator that I have developed over the last year. It takes a sentiment reading of my universe of roughly 1700 names.
Using the SPY I will attempt to sell the greed and buy the fear.
My goal is 50 trades in this journal then close it. I just want to stay honest and posting here should help with that.
Overlayed with the Cash SPX is an oscillator of sorts. And extreme level of greed is .60 and fear is -.60. Currently anyway. I built the spreadsheet to adjust over a period to avg so an outlier today may not be one in a year.
Here it is overlayed with the spx on a daily basis going back to the first of the year.