Market Pulse on June 11th

Olivier Rigot, EMC Gestion de Fortune

1 minute de lecture

S&P 500 3002,1 -188,04.

Finally, the risk materialized with brutality embarking the whole market in a deep rout. The stock market girated overnight from one extreme to the other. Selling pressure intensified over the trading session. Our model correctly pointed out over the last few days to the rampant speculation especially in the option market where activity reached extreme greediness. Breadth was deeply in the red : 243 stocks advanced compared to 3799 that settled down, our capitulation index reached a daily extreme reading just after having recorded a couple of days ago an extreme buying. All systematic models turned down at the same time, intensifying the selling pressure. The S&P 500 is going to try to hold the famous 3000 level that may retested several times.

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