A quiet summer trading day in Wall Street with low volume and slight negative breadth: 1705 stocks advanced compared to 2107 that settled down. The story is more or less the same, options traders are still eager to position their bets on the upside by buying calls and we observed heavy buying pressure on the Nasdaq through our buying/selling index, although prices corrected slightly. It is interesting because it means that although the buying pressure is there it didn’t move up prices, this is food for thought. The weekly sentiment survey among professional portfolio managers point out to the same level of optimism or greed that prevailed at the beginning of the year.

Very short term oscillator	Positive +
Short term oscillator	Positive +
RVI trend	Positive +
Trend short term (5 days)	Up
Trend mid term (8 days)	Up
Differential of trends	Up
Risk profile	83 (scale of 1 (low risk) to 100 (high risk))

 

Next Update 4th August 2020.