S&P 500 2918,65 -19,44.
The stock market closed a very volatile week under heavy selling pressure, as measured by our buying/selling index. Hedging activity in the option market was intense, breadth settled on a negative note: 1278 stocks advanced on the NYSE and 2463 closed down. Our global risk profile index improved somehow. We still stick with our scenario of a large trading range until early fall with wild swings that may be difficult to anticipate and even more difficult to trade.