The stock market declined slightly but selling pressure was heavy as measured by our indicators: buying/selling index, fear/greed index and our capitulation index. We continue to observe a lot of hedging activity in the option market and the SKEW index reached a new high for the year. This combination of data points out to a global level of fear from market participants that should open the door to a good buying opportunitiy for traders and investors. Our global risk profile index improved a lot in only a couple of days. We still stick with a price objective of 2800 for the S&P 500.