After a brief consolidation Thursday, the stock market roared higher Friday, entering into the target area we mentionned last week. We observed a slight deterioration of the various components of our model: internal momentum was less impressive and confidence from various market participants has increased. The cumulative advance/decline line has reached the level of the end of November and is still very overbought, which is a good sign for a mid-term horizon. The weekly sentiment survey among professional portfolio managers has jumped and options traders are again eager to play the upside of the markets by buying calls. Our scenario calls for a test of the 2700 area before a kind of correction/consolidation unfolds.