TL;DR
The CNN Fear and Greed Index measures US stock market investor sentiment on a 0 to 100 scale using seven equally-weighted indicators: market momentum, stock price strength, price breadth, put/call ratio, VIX volatility, safe haven demand and junk bond demand. As of 19 June 2026 it stood at 37 (Fear territory). Extreme Fear has historically preceded market recoveries; Extreme Greed has preceded corrections. It is a contrarian sentiment tool, not a precise timing signal.
Last reviewed: June 2026
Key Facts
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What is the Fear and Greed Index?
The CNN Fear and Greed Index is a sentiment analysis tool built by CNN Business that tracks the emotional drivers of US stock market behaviour. Launched in spring 2012 and updated continuously throughout each trading day, it draws on Warren Buffett's widely quoted investment principle: "Be fearful when others are greedy and be greedy when others are fearful." By tracking measurable market signals that reflect emotional extremes, the index provides a single score summarising prevailing investor sentiment. Fear pushes asset prices below fundamental value; greed inflates them above it. Source: CNN Business (cnn.com/markets/fear-and-greed).
The 0 to 100 scale
| Score | Zone | Typical market context |
|---|---|---|
| 0 to 24 | Extreme Fear | Heavy selling, panic, often near market lows historically |
| 25 to 44 | Fear | Investor caution, risk-off positioning, below-average confidence |
| 45 to 54 | Neutral | Balanced sentiment, no dominant emotional driver |
| 55 to 74 | Greed | Risk-on positioning, rising equity prices, above-average confidence |
| 75 to 100 | Extreme Greed | Euphoria, stretched valuations, historically associated with market tops |
The seven indicators
CNN Business calculates how much each indicator deviates from its historical average, then combines them with equal weighting. Source: CNN Business methodology (cnn.com/markets/fear-and-greed).
1. Stock price momentum
Compares the S&P 500 to its 125-day moving average. Above the average signals Greed; below signals Fear.
2. Stock price strength
Tracks NYSE stocks at 52-week highs versus 52-week lows. More highs signals Greed; more lows signals Fear.
3. Stock price breadth
Based on the McClellan Volume Summation Index, comparing volume of advancing versus declining stocks. Rising volume in advancers signals Greed; rising volume in decliners signals Fear.
4. Put and call options
Measures the put/call ratio. A rising ratio (more bearish puts than bullish calls) signals Fear; a falling ratio signals Greed.
5. Market volatility (VIX)
The CBOE Volatility Index measures expected S&P 500 price fluctuations over the next 30 days. A rising VIX signals Fear; a falling VIX signals Greed.
6. Safe haven demand
Compares US Treasury bond and stock returns over the prior 20 trading days. Bonds outperforming stocks signals Fear; stocks outperforming signals Greed.
7. Junk bond demand
Tracks the spread between high-yield and investment-grade bonds. A narrowing spread signals Greed (investors accepting less premium for credit risk); widening signals Fear.
Current reading and 2026 context
The index stood at 37 (Fear) as of 19 June 2026, per MacroMicro data sourced from CNN Business. This reflects uncertainty following the Middle East conflict that began in late February 2026, UK CPI at 2.8% (ONS May 2026), and the Bank of England holding rates at 3.75% at its June meeting with two MPC members voting for a rise to 4.00%. The index reached low readings in the immediate aftermath of the February escalation before partially recovering. Sources: CNN Business; MacroMicro series 22748; BoE MPC Minutes June 2026.
Historical patterns at extremes
Extreme Fear readings below 20 to 25 have historically preceded market recoveries. Single-digit and low-teen readings in April 2025 coincided with what became a significant market trough. In June 2022, the index reached near its lowest recorded reading during the crypto and equity bear market, which subsequently recovered substantially. Extreme Greed above 80, such as the 84 recorded in November 2021, preceded a significant correction. Historical data from Finhacker.cz confirms the index has ranged from approximately 2 to 97 across its full history since spring 2012.
Limitations
The index is a sentiment measure, not a valuation or fundamental tool. Sentiment can remain at extreme levels for extended periods before reverting. The index covers US equities only and does not directly measure sentiment in UK markets, the FTSE 100 or European indices. UK investors should treat it as a global sentiment proxy with a strong US equity bias.
Disclaimer: The Fear and Greed Index is a sentiment tool for educational use only. Past readings are not reliable indicators of future market performance. Kaeltripton Ltd is not FCA-authorised and this is not financial or investment advice.
What does a Fear and Greed score of 37 mean?
A score of 37 falls in the Fear zone (25 to 44). Investors are more cautious than average with risk-off positioning dominant. It does not guarantee a recovery is imminent, but indicates sentiment is negatively skewed relative to neutral.
Who publishes the Fear and Greed Index?
CNN Business at cnn.com/markets/fear-and-greed, since spring 2012.
Is there a UK Fear and Greed Index?
No direct equivalent exists for UK markets. The CNN index covers US equities and can be used by UK investors as a global sentiment proxy.
How reliable is the Fear and Greed Index?
It captures the emotional environment of markets accurately and has shown correlations with subsequent performance at extremes. It does not predict timing and should be used alongside, not instead of, fundamental and technical analysis.
Sources
CNN Business Fear and Greed Index (cnn.com/markets/fear-and-greed); MacroMicro CNN Fear and Greed Index series updated 19 June 2026 reading 37.26 (en.macromicro.me); Finhacker.cz historical Fear and Greed Index chart 2011-2026; Bank of England MPC Minutes June 2026 (bankofengland.co.uk); ONS Consumer Price Inflation May 2026 (ons.gov.uk).
