S&P 500 2747.3 +43.34.
The stock market jumped, recovering the highs reached two days before with strong breadth : 2403 stocks advanced compared to 530 that settled down. Our ten day oscillator based on the advance/decline line reached the overbought area and some kind of consolidation should occur. We observed some hedging activity in the option market, options traders are more cautious than in January and the activity is back to a more normal level, this is confirmed by the SKEW index, measuring the slope of the implied volatility curve. Our risk profile index is back to the neutral level, reflecting the compilation of the various components that offer a mixed picture of the various forces at work.