The stock market broke the lower boundary of the ascending triangle we mentionned in our previous comments which may open the door to a correction/consolidation that may bring the S&P 500 back to the low 2900 (see chart attached). Breadth closed on a weak note: 1406 stocks advanced compared to 2304 that settled down. The Tick Index closed negative which didn’t happen for a long time. Hedging activity in the option market increased slightly. Our proprietary systematic model started to turn negative, it usually leads the ones used by CTA’s and other traders by one or two trading days.