Market Pulse on October 16th

Olivier Rigot, EMC Gestion de Fortune

1 minutes de lecture

S&P 500 3483,81 +0,47.

The stock market seesawed around the closing prices during the last two trading days of the week. We observed renewed buying pressure, as measured by our buying/selling index and our fear/greed index. Options traders were again eager to buy calls quite agressively. The latest report of the CFTC (Commodity Futures Trading Commission) pointed out that hedge funds reversed of one of the biggest short position on US tech stocks and bought record number of contracts of Nasdaq futures last week. It means that speculators had to close losing short positions and are betting now strongly that the next move will be up. This is confirmed by the weekly survey among professional active managers that points out to the bullish mood of this category of investors. This index stands again at the top of its historic range.

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 75 (scale of 1 (low risk) to 100 (high risk))

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