The stock market tried to rally at the opening before succumbing to heavy selling pressure towards the close and settling on the support level at 2700. As mentionned in our previous comment, after this downmove, we expect a countertrend rally in a large correction process that may take some more weeks to unfold. The good news comes from the weekly survey among private investors, a category of market participants that is adopting a rather cautious attitude towards the prospect of the market. On the other side, daily sentiment indicators still have room to improve before flashing a buy signal.