As expected, the stock market entered into the resistance area we mentionned in our previous comments. We observed heavy buying pressure, as measured by our buying/selling index and our capitulation index. It may means that short sellers had to rush to cover their short positions. Breadth closed on a strong note: 2559 stocks advanced compared to 855 that settled down. The market stands at a crossroads actually and our preferred scenario still calls for a second wave down that should open to a good buying opportunity for traders and investors later in the summer.