Currently we have arrived in the extreme greed phase but things can change quite quickly.
Remember April? The extreme fear phase kicked in with the announcement of Trump’s Tariffs.
“The Fear & Greed Index is used to gauge the mood of the market. Many traders/investors are emotional and reactionary, and fear and greed sentiment indicators can alert traders/investors to their own emotions and biases that can influence their decisions. When combined with fundamentals and other analytical tools, the Index can be a helpful way to assess market sentiment.”
Ultimately, sentiment dictates the state of play with stocks here and globally.