Market Pulse on March 3rd

Olivier Rigot, EMC Gestion de Fortune

1 minute de lecture

S&P 500 3003,37 -86,86.

A roller coaster trading session after the Fed agressively lowered interest rates by half a point which confused market participants more than conforting them that the Fed was in control of the situation. Nevertheless, the market solf off sharply to the 3000 area that acted as a support, at least from a psychological point of view. In these kind of situations, our indicators are providing interesting observations : our daily fear/greed index reached the highest level of fear and stress among traders and investors since the 21th and 24th of December 2018, which marked the bottom of the bear market of the last quarter of 2018. Our capitulation index has also registered extreme reading over the last ten days. In summary, our indicators are heading into the right direction even if some have still some room to improve. We continue to stick with the scenario of a large trading range that may last a good part of this year.

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