Market Pulse on June 15th

Olivier Rigot, EMC Gestion de Fortune

1 minute de lecture

S&P 500 3066,59 +25,28.

Everytime the market seems to finally correct its overbought conditions, new fiscal and montary measures are announced, The Fed is timing very well the market adding a new layer of control on the whole credit market. After an initial selloff at the opening, the stock market recovered during the trading session with prices accelerating towards the close. Breadth settled fairly strong: 2561 stocks advanced compared to 1301 that settled down. It is interesting to not that the CBOE SKEW index, measuring the slope of the implied volatility curve closed at the highest level since February, confirming the confidence options traders have that the uptrend may continue. After a couple of days of caution, options traders are again willing to bet on the upside of the market by buying calls.

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