Art of Speculation
Art of Speculation|Aug 04, 2026 19:12
Feels like a déjà vu of the March 30th short squeeze. Let’s talk about the S&P Forward PE—last Friday it was at 19.6x with $SPX at 7450, and even after two days of gains to 7750, it’s only at 20.5x. The peak in October 2025 was 23.2x. The S&P Fear & Greed Index is now at 59—let’s see if it can surpass May 1st’s 71 greed level and hit extreme greed. Stock buybacks will continue to push U.S. stocks higher. The $JPM Collar for Q3 is at 7890 through September 30th, which could act as a potential resistance level. Any 1-hour pullback is a buying opportunity.
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