Market Pulse on September 11th

Olivier Rigot, EMC Gestion de Fortune

1 minutes de lecture

S&P 500 3000,93 + 21,54.

The stock market closed on a strong note with prices accelerating towards the close, the S&P 500 settled exactly on the 3000 mark ; few market participants would have anticipated, less than one month ago, that the market would come back so rapidly. Money poured into the market at the closing bell at any price as measured by the closing tick index which finished at 1055, a record since the beginning of the year. Upside breadth was strong as 2724 stocks advanced compared to 1093 that settled down. Daily and weekly indicators are now neutral. The S&P 500 is entering into the area we mentionned in  our previous comments and may challenge the old highs at 3015-3030. We expect that prices may encounter resistance at that level.

 

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