Market Pulse on May 17th

Olivier Rigot, EMC Gestion de Fortune

1 minute de lecture

S&P 500 2859,53 -16,79.

Over the last four days, the stock market rebounded from the support area at 2800, we correctly identified in our previous comments, with strong breadth, as measured by the advance /decline line and the closing tick. Our model improved and the scenario of a the set up of a large trading range is the most favored one for the weeks to come. It is not impossible over the next trading sessions that the 2800 area may be tested again. Daily and weekly sentiment indicators improved pointing out to growing skepticism in investor’s minds.

 

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