Market Pulse on July 3rd

Olivier Rigot, EMC Gestion de Fortune

1 minute de lecture

S&P 500 2713,22 -13,49.

A shortened trading session before the celebration of the 4th of July stopped the tentative rally at the opening and induced heavy selling pressure towards the close. The stock market is still stuck in a tight trading, characterized by a fierce struggle between bulls and bears. This period of consolidation/correction, we correctly identified two weeks ago, is slowly bringing our indicators to a more favorable situation. Market participants are becoming more cautious and, in the option market, traders have started to protect their positions by buying puts. This process may continue fo a while until our global risk profile index flashes a strong buy signal.

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