S&P 500 3714,24 -73,14.
Selling pressure intensified on the last day of trading of the month. January has been volatile, the Dow Jones Industrial and the S&P 500 closed slightly down whereas the Nasdaq Composite index settled slightly up. According to the trader’s almanach, January is a good indicator for the year: “As goes January, goes the year”, it is difficult to draw any conclusion at this stage.
Friday’s activity was tense with high volume and negative breadth: 1058 stocks advanced on the NYSE whereas 3068 settled down. Options traders adopted a more cautious attitude as put/call ratios improved. Some of our indicators improved like our fear/greed index and our capitulation index although there is still ample room the work out the very overbought situation of the market reached in January.
Speculation is fueling the silver market, we’ll come back on the subject in our next days comments.
|Very short term oscillator||Negative -|
|Short term oscillator||Negative -|
|RVI trend||Negative -|
|Trend short term (5 days)||Down |
|Trend mid term (8 days)||Down |
|Differential of trends||Up |
|Risk profile||77 (scale of 1 (low risk) to 100 (high risk))|