Market Pulse on October 12th

Olivier Rigot, EMC Gestion de Fortune

1 minutes de lecture

S&P 500 3534,22 +57,09.

The stock market jumped at the opening, leaving some gaps open on many stocks. Breadth wasn’t that impressive on the NYSE (1859 stocks advanced, 1170 declined) whereas on the Nasdaq, data was better (2112 stocks up, 1339 down). We suspect that some kind of short covering activity has been at work. The list of new highs is expanding. The stock market is overbought by many measures although the cumulative advance/decline has been rather impressive lately recovering to the highs of end August. Options traders are again very active as they buy calls with frenziness as measured by the put/call ratios.

Very short term oscillator Positive +
Short term oscillator Positive +
RVI trend Positive +
Trend short term (5 days) Up
Trend mid term (8 days) Up
Differential of trends Up
Risk profile 72 (scale of 1 (low risk) to 100 (high risk))

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