The stock market sold off sharply at the opening under heavy selling pressure, as measured by our buying/selling index. Breadth settled clearly on the negative side : 835 stocks advanced compared to 3005 that finished down. Our capitulation index pointed out to a typical blow off day before the dust starts to settle down. Our risk index improved somehow but there is still some way to go before it becomes really attractive. The stock market, after more than three months of advance, may start to trade sideways before positive factors emerge again. Let’s watch closely the trading days to come.