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))|