Market Pulse on October 29th

Olivier Rigot, EMC Gestion de Fortune

1 minute de lecture

S&P 500 3310,11 +39,08.

The stock market rebounded somehow after Wednesday’s sharp selloff, bargain hunters were active, trying to take advantage of the correction to build positions ahead of the end of the month. We observed some cautiousness among options traders who where somehow less eager to buy calls than the previous days. The list of new lows continues to expand, the weekly sentiment survey among active portfolios managers points out also to a more cautious tone regarding the future direction of the market, although the index still stands in the overbought territory. In summary, most of our indicators are coming back towards the neutral level but no clear signs of capitulation have occurred yet. 

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 Under review (scale of 1 (low risk) to 100 (high risk))

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