The stock market entered into the price range we mentionned yesterday that may mark the end of the January rally, time will tell if finally some kind of correction/consolidation occurs to bring back our indicators to, at least, a neutral level. Breadth was positive but didn’t surpass the 2000 advance on the NYSE (1845 stocks up/1050 down). Over the last 14 trading sessions since the beginning of the year, only the 11th of Januray more than 2000 stocks closed up on the NYSE. Taking into account the large advance in price, participation on the upside has been to say the least relatively poor.