The stock market started to cede ground in the wake of a new round of tariffs unveiled on chinese imports but didn’t cause any panic. Our preferred scenario still calls for a continuation of the correction/consolidation that started mid June and that may last a couple more weeks until our global risk profile index, compiling our various indicators, comes back to an attractive level and offers a good entry point for traders and investors. In terms of price objective, the S&P 500 may revisit the low 2700.