The stock market followed through Thursday’s selloff and prices accelerated on the downside. We observed quite heavy selling pressure as measured by various indicators like our buying/selling index, our capitulation index and our fear/greed index. Put/call ratios improved as options traders have finally started to pile up on puts to protect their positions or for playing the market on the downside. Breadth closed weak as only 653 stocks advanced compared to 3682 that settled down. The list of stocks hitting fresh 52 weeks lows jumped.