Market Pulse on November 26th

Olivier Rigot, EMC Gestion de Fortune

1 minute de lecture

S&P 500 4594,62 -106,84.

The stock market broke sharply down after the discovery of the variant Omicron rattled the world. In a technically weak environment, we described in our previous comments, and during a shortened trading session, almost nothing could halt the swift selloff. Breadth closed sharply negative: 624 stocks advanced compared to 3589 that settled down. Our capitulation index reached, on a daily basis, extreme readings. Although our indicators improved on a daily basis, they haven’t yet reached crying buys. The pattern of the cumulative advance/decline line on the Nasdaq is worrisome as it is back to the level of December 2020 and still pointing south.

Very short term oscillator Negative -
Short term oscillator Negative -
RVI trend Negative -
Trend short term (5 days) Down ​
Trend mid term (8 days) Down ​
Differential of trends Down ​
Risk profile Under review (scale of 1 (low risk) to 100 (high risk))

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