Market Pulse on May 3rd

Olivier Rigot, EMC Gestion de Fortune

1 minutes de lecture

S&P 500 4192,66 +11,49.

A relatively quiet trading day in Wall Street with slight discrepancies among various indexes. Breadth closed on a relatively strong note: 2886 stocks advanced on the NYSE compared to 1327 that settled down. Options trading was fairly neutral. Most of our indicators are still hovering around their historic overbought level, a kind of consolidation/correction in May may bring them back to more attractive levels. Inflation is clearly back everywhere as the Fed continues to add liquidity at a rate of usd 120 billion per month. Is the bubble going to deflate? follow closely the Russell 2000 index as a potential head & shoulder pattern may taking place.

Very short term oscillator Neutral
Short term oscillator Neutral
RVI trend Positive +
Trend short term (5 days) Up
Trend mid term (8 days) Up
Differential of trends Up
Risk profile 66 (scale of 1 (low risk) to 100 (high risk))

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