EMC Gestion de Fortune SA a développé, au fil des années, un modèle d’appréhension du risque sur le marché américain des actions baptisé : « Market pulse ». L’approche combine la finance comportementale, l’analyse des forces internes régissant l’offre et la demande, l’étude des cycles et des mouvements de prix. Ce modèle permet d’évaluer en permanence le risque global du marché sur une échelle de 0 à 100.
Tuesday 22nd September 2026 (S&P 500 7764,64 unchanged)
Once in a while, the stock market closes exactly unchanged, that’s the beauty of the maths. Some analysts in the stock market are making the same observation we mentioned several times in our previous comments; internal momentum is weak and the participation rate to the upside is narrow and limited to a couple of sectors: AI and semis stocks.
The last time this phenomenon occurred happened in December 1999, three months before the burst of the Internet bubble… Stay cautious and focused on valuations!
Breadth closed almost square: 2425 stocks advanced, 2126 declined. Equity options traders have been piling up on calls as reported by the CBOE equity put/call ratios. Nevertheless, semis stocks broke out of their consolidation/correction of the last few months and may have room to reach new highs.
Very short-term oscillator: positive
Short-term oscillator: positive
RVI trend: positive
Trend short-term (5 days): up
Trend mid-term (8 days): up
Differential of trend: up
Risk profile index: 50 (scale of 1 (low risk) to 100 (high risk))
Have a nice day!
OR
