Market Pulse on January 23rd

Olivier Rigot, EMC Gestion de Fortune

1 minutes de lecture

S&P 500 2839,13 +6,16.

The stock market closed mixed: Dow Jones flat, S&P 500 slightly up and the Nasdaq attracted the most interest from investors. Breadth still didn’t surpass the 2000 mark on stocks traded on the NYSE (1788 up, 1096 down). Options traders are still eager to play the upside by buying lots of calls which contributes to deteriorate our indicators. This category of market participants is very complacent since the beginning of the year. The SKEW index reached the lowest level for months, another sign of complacency. On the other side, we observed some selling pressure on stocks, as measured by our buying/selling index. Overall, a mixed bag of activity during the day with opposite approach depending of the category of market participants.

 

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