S&P 500 2639.4 +4.84.
The stock market opened on a weak note before recovering during the trading session and closing slightly up. Breadth settled on a negative note: 1486 stocks advanced compared to 1725 that closed down. Although the cumulative advance/decline line didn’t suffer too much from the latest selloff, we think that some time is needed to repair the damages, the scenario of a expanding trading range is still valid. Daily and weekly sentiment indicators have to improve, there is some kind of complacency among market participants and we would like to observe fear, despair and capitulation from investors and traders.