We mentionned in our previous comments early last week that internal momentum had started to deteriorate. Stock prices finally followed and the whole market is in a correction mode. The list of stocks hitting fresh new 52 weeks lows has expanded sharply last week, confirming the downtrend. Weekly and daily sentiment indicators are still too complacent and we expect better readings from that side before a bottom may be called. The stock market is entering into the weakest period of the year and this time is not much different.