Market Pulse on November 29th

Olivier Rigot, EMC Gestion de Fortune

1 minute de lecture

S&P 500 2737,76 -6,03.

The stock market held fairly well its previous day upmove but couldn’t supass a technical wall, chartists are observing, below the 40 and 200 day moving average. Breadth closed on a slightly positive note : 1705 stocks advanced whereas 1904 declined. Daily sentiment indicators point out to a willingness from options traders to play the upside by buying calls. The weekly sentiment indicators are back to a neutral level. A tentative scenario may call for a further brief advance of the market, followed by a slight correction before a year end rally. Our risk profile model deteriorated rapidly and it needs to improve quickly to confirm that the recent upmove is not just a bear market rally.

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