Market Pulse on January 8th

Olivier Rigot, EMC Gestion de Fortune

1 minute de lecture

S&P 500 2574,41 +24,72.

The stock market continued to creep upward with solid breadth: 2866 stocks advanced on the NYSE compared to 850 that settled down. It is interesting to note that our ten day oscillator based on the advance/decline line is deeply overbought. This means that internal momentum is strong, a sharp contrast with the last weeks of trading of 2018. A pause may be welcome to work out the overbought conditions we mentionned earlier. Daily sentiment indicators are in line with the recent advance and point out to some skepticism from options traders, a good sign.

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