Market Pulse on June 29th

Olivier Rigot, EMC Gestion de Fortune

1 minutes de lecture

S&P 500 3053,24 +44,19.

The S&P 500 rebounded swiftly after having tested the 3000 support level on decent volume and breadth : 2869 stocks advanced compared to 1011 that settled down. We observed a lot of buying pressure as measured by our buying/selling index which hit a level usually associated with short covering activity. The market retraced almost 1/3 rd of last week dowmove. Options traders followed the move but on a less agressive way than during the previous recoveries. The market is lacking a clear direction over a shortened week, the coronavirus outbreak and soon to be released 2nd quarter results.

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 Down
Risk profile 67 (scale of 1 (low risk) to 100 (high risk))

 

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