Market Pulse on October 6th

Olivier Rigot, EMC Gestion de Fortune

1 minutes de lecture

S&P 500 3360,95 – 47,68.

Mr Trump took off the market by surprise when he decided to call off the negociations with the Democrats on another stimulus deal and selling pressure increased until the bell, as measured by our buying/selling pressure index and our capitulation index. Before the announcement, the market continued to rotate from the tech sector to a broader participation of stocks as measured by the S&P 400 and the Wilshire 2000 indexes. The list of new highs continued to expand, helping the cumulative advanc/decline line. Most of the big names in the tech couldn’t surpass their 40 days moving average and prices are pointing down short term. Announcement by the Democrats that they may consider GAFAM’s as holding a monopolistic position may put some pressure on prices. Options trading activity hovered around the neutral level.

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 Down
Risk profile 54 (scale of 1 (low risk) to 100 (high risk))

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