Market Pulse on October 29th

Olivier Rigot, EMC Gestion de Fortune

1 minute de lecture

S&P 500 2641.25 -17.44.

A wild trading session in Wall Street, the stock market opened sharply higher, touching the 2700 area before retracing all the gains and reaching almost 2600 before recovering in the last minutes. The scenario we envisionned lately is happening at a much higher speed than anticipated. Overall, the S&P 500 traveled almost 200 points. The war between bulls and bears reached a peak and volatility is, for the time being, the only winner. Our indicators are improving slowly and the most important are those linked to the internal strengh, measured by the advance/decline line and the list of new highs/new lows. Both are still weak.

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