Market Pulse on October 19th

Olivier Rigot, EMC Gestion de Fortune

1 minute de lecture

S&P 500 3426,92 -56,89.

There was no crash on the anniversary of Monday 19th October 1987, 33 years (a fibonacci number) after the worst trading day, most old timers may remember. The stock market slided all day long to close sharply lower as the perspective of a stimulus package before the election faded away. Our trading model based on prices has started to turn down, options trading is still tilted towards calls buying, breadth settled negative: 1057 stocks advanced compared to 2801 that settled down. We observed some selling pressure on the NYSE as measured by our buying/selling index, on the Nasdaq, it was the opposite, the buying/selling index on this market indicated a large tendency to the buy side. There is still some way to go to correct the overbought status of many indicators we are following.

Very short term oscillator Negative -
Short term oscillator Negative -
RVI trend Negative -
Trend short term (5 days) Down
Trend mid term (8 days) Up
Differential of trends Up
Risk profile 73 (scale of 1 (low risk) to 100 (high risk))

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