The stock market retreated slightly, declining stocks took the lead : 2738 stocks declined compared to 973 that advanced. We observed heavy selling pressure as measured by our buying/selling index and our capitulation index. Systematic models used by traders have started to turn down and thiy may have added selling pressure as this category of market participants have started to unload their long positions, initiated since the beginning of the year. Hedging activity increased slightly in the option market.