Market Pulse on October 8th

Olivier Rigot, EMC Gestion de Fortune

1 minutes de lecture

S&P 500 3446,83 +27,38.

The stock market continued to creep higher on hopes that finally a stimulus deal may be announced. Breadth continues to be strong: 3024 stocks advanced compared to 866 that settled down and the cumulative advance/decline line recovered its September decline. Our ten day oscillator based on the advance/decline line is strongly overbought. Options traders are betting on the upside of the market and are buying calls agressively. Put/call ratios are back to the level observed at the end of the month of August. We observed these last few days a lot of buying pressure as measured by our buying/selling index, our fear/greed index and our capitulation index. Finally, the weekly survey among active professional managers points out to renewed optimism from this category of investors, the index stands at 75 on a scale of 0 to 100.

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

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