The Melt-Up Has Already Happened

Add this to the pile of things that has me concerned. [Jeff Clark's Market Minute]( The Melt-Up Has Already Happened By Jeff Clark, editor, Market Minute Carve another notch is the “monthly winners” column. The S&P 500 closed higher for August, making it the seventh month in a row of gains. That’s the longest monthly winning streak in over 30 years. But, can the index make it eight in a row by rallying even more in September? Recommended Link [Seven Billionaires (including PayPal Co-Founder Peter Thiel) are backing the company that offers an account that can pay you up to 100X more interest]( [image]( Have you heard about what Teeka Tiwari calls the Bitcoin “Boost”? Thanks to a landmark decision… Everyone will soon know about a ground-breaking account that pays up to 100 times more interest than what big banks offer. This is, quite simply, remarkable. And, already, several billionaires – and even Fidelity, which manages $10 trillion – have stepped up to the plate and are backing the top company that provides this account. Teeka has put all the details about what I learned in a new, free tell-all video. [Just click the link to access it now.]( -- I’m going to say “no.” Look at this long-term monthly chart of the S&P 500 (SPX)… [(Click here to expand image)]( The stock market has rallied almost straight up over the past year. So, if you’re piling into the stock market right here in anticipation of a “melt-up” phase – you’re too late. The melt-up has already happened, and the chart reflects it. This action has created a “parabolic” move on the chart. Parabolic moves are unsustainable. And, when they burn out, the ensuing decline often wipes out nearly the entire rally. So, let’s just throw this chart on top of the pile of things that concerns me about the stock market. The question for today, though, is “can the S&P 500 continue its winning streak for another month?” The problem is that the index is already overbought and overextended. It’s trading historically far above its 9-month and 20-month [exponential moving averages]( (EMA). And, the [MACD]( momentum indicator is as far into overbought territory as it’s ever been. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. In other words, the stock market is more overbought today than it was at the top of the “dot-com” bubble in 2000, and at the start of the Great Financial Crisis in late 2007. [Mark Cuban Doubles Down on Odd Tech Investment (How to Join Him)]( Given the overbought and overextended conditions on this monthly chart of the S&P 500 – and given all of the other concerns we’ve written about the stock market over the past few weeks – it sure seems unlikely to me the S&P 500 can blast even higher for another month. Yes, it’s possible, and anything can happen… But, the current setup looks dangerous. I expect the S&P 500 will end September lower than where it started. Best regards and good trading, [signature] Jeff Clark P.S. While the current market looks dangerous, one thing my colleague and legendary hedge fund trader Larry Benedict knows is guaranteed to happen is something he calls the “[7-day blitz]( During this strange week-long phenomenon, over $1.2 trillion will exchange hands in the market. And if you follow Larry’s technique, you could see the chance to profit from it… Not a lot of people know about this window, but it’s one of the most profitable times of the year for traders. On Wednesday, September 8 at 8 p.m. ET, Larry will share all the details… [just click here to reserve your free spot]( it won’t be available for long. Reader Mailbag Are you a firm believer that the market will continue to keep going higher, or that it has to drop off soon? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. In Case You Missed It… [Why are Elon Musk, Mark Cuban & Richard Branson Investing in this strange Quadrillion-Dollar Tech?]( They aren’t friends… They aren’t business partners… And aside from the shared “Billionaire status” – these men have little in common. So why are Elon Musk, Mark Cuban & Virgin Founder Richard Branson investing in the same strange technology? Tech investing expert Jeff Brown sat down to take a deeper look in his recent interview with Chris Hurt. Jeff is convinced this earth-shattering new technology will dwarf AI, Cryptocurrencies, Robotics, 5G – combined… [Click here to watch or read his full presentation while it’s still available.]( [image]( Get Instant Access Click to read these free reports and automatically sign up for daily research. [image]( [The Three Best Gold Coin Deals on the Market Today]( [image]( [How to Earn Free Bitcoin]( [image]( [An Insider's Guide to Making a Fortune from Small Tech Stocks]( [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-800-752-0820, Mon–Fri, 9am–7pm ET, or email us [here](mailto:contactus@jeffclarktrader.com). © 2021 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. [Privacy Policy]( | [Terms of Use](