Market Pulse on March 20th

Olivier Rigot, EMC Gestion de Fortune

1 minute de lecture

S&P 500 2304,92 -104,47.

The stock market tried to rebound at the opening without much success before sliding almost to the lows at the closing bell before a week-end that brought only bad news on the sanitary situation. Breadth wasn’t so bad with 1795 stocks advancing and 2306 that settled down. Although some of our indicators have hit extremes others have not yet capitulated. Our buying/selling index on the NYSE and on the Nasdaq still stand at a neutral level which, in our opinion, indicate that there are a lot of bagain hunting going on, that may explain the swift upside we have observed intraday lately. The coordinated actions of the central banks around the world is the other side of the equation as they have deployed all the tools available to provide ample liquidities into the system.

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