S&P 500 “Market pulse” analysis

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 20th June 2023 (S&P 500 4388.7 -20.8)

The stock market started to consolidate its latest gains although it didn’t close on the lows of the day. We observed some selling pressure on the NYSE as measured by our buying/selling index and our capitulation index. The cumulative advance/decline lines on the NYSE and on the Nasdaq have improved since the lows of March but are still not impressive as the runup of the indexes have been concentrated on few big cap stocks. The put/call ratios have declined lately as options traders have been more optimistic regarding the sustainability of the upmove, an observation confirmed by the SKEW index that reached lately its highest level since the spring of 2021.

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: 76 (scale of 1 (low risk) to 100 (high risk))

Have a nice day!