According to The Kobeissi Letter, the S&P 500 extended gains to over +1% intraday as technology stocks rebounded sharply. Source: The Kobeissi Letter, Nov 19, 2025. The source noted the index is up about 115 points since the Fear & Greed Index printed 9 roughly 23 hours earlier, marking an extreme fear reading. Source: The Kobeissi Letter, Nov 19, 2025. The source also highlighted April 2025 levels of Extreme Fear and asserted such readings are not typically seen immediately before major market selloffs. Source: The Kobeissi Letter, Nov 19, 2025. For crypto traders, this equity risk-on bounce is a cross-asset signal to monitor for BTC and ETH liquidity and volatility, even though the source made no direct crypto reference. Source: The Kobeissi Letter, Nov 19, 2025.