Market Pulse on May 1st

Olivier Rigot, EMC Gestion de Fortune

1 minute de lecture

S&P 500 2830,71 -81,72.

The stock market broke sharply down after a few days of some excess optimism, we correctly pointing out through our indicators. Systematic models based on prices are on the verge to turn down and this could bring additional selling in the near term. Breadth settled deeply negative: 657 stocks advanced compared to 3317 that settled down, hedging activity increased slightly in the option market and our daily fear/greed ratio put into evidence that swing traders liquidated massively their long positions.

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