A volatile trading day ahead of the announcement of Mr Biden’s santions towards Russia. The overall internal situation of the stock market is rather weak as internal momentum measured by the cumulative advance/decline line continues to look south. The stock market is again oversold, according to various indicators, although we haven’t observed yet panic selling across the board. It is interesting to note that, since the beginning of the year, everytime the model comes back to the neutral level, prices are again under pressure, this is typical of a bear market and has to be watched closely. Yesterday’s breadth was weak: 929 stocks advanced compared to 3468 that settled down. The list of stocks hitting fresh new lows continues to expand : 337 on the Nyse and 660 on the Nasdaq.