S&P 500 3408,63 +60,19.
The stock market recovered after Friday’s fall on strong breadth : 2973 stocks advanced compared to 966 that settled down on the NYSE, internal momentum helped the cumulative advance/decline line to recover and the list of stocks hitting new highs expanded as well. Our buying/selling index closed overbought, indicating that some short covering activity may has been at work. Most of the big tech stocks that led the market recently closed just below their 40 days moving average and stand on a crossroad. It looks like sectors rotation are underway as the S&P 400 and the Wilshire 2000 index had a good run these last few days. In the options market, traders tilted their activity on buying calls although speculative activity was moderate.
|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||55 (scale of 1 (low risk) to 100 (high risk))|