S&P 500 3113,87 -27,11.
Finally, the stock market lost some ground and entered a correction/consolidation that may drive the market to the breaking point we mentionned in several of our latest comments between 3040-3070. Some systematic models have started to turn down, ours is on the verge to follow ant that may ignite some added selling pressure. This kind of market action may help our model to improve somehow and set up the foundation for the next upmove. Breadth closed in the red: 1075 stocks advanced compared to 2828 that settled down and we started to observe some hedging activity in the option market, a sign traders are becoming cautious.