The stock market erased the previous day’s losses due to the announcement of new tariffs in the trade war that opposed the USA to China and closed shy of the resistance at 2800 that stopped the market since February. This market action jeopardized our preferred scenario and leaves the game open. Internal momentum stays strong with 2175 stocks closing up, 1272 settled down and the cumulative advance/decline line reached new highs. In the option market, traders are willing to play the upside by buying calls but without any clear sign of speculation. In summary, although the market is overbought, the momentum is strong and may favor the upside until the end of July before the seasonal weak pattern of the months of August and September takes the lead.