A day of consolidation with some selling pressure as measured by our indicators. Breadth closed on a weak note: 1018 stocks advanced on the NYSE compared to 2259 that closed down. Internal momentum measured by the cumulative/advance decline has to recover and reach at least the previous highs of the month of May to sustain prices and the existing bull market. The Russell 2000 index reflected more the activity of the day by closing sharply down – 1,55%. Put/call ratios pointed out to some cautiousness among traders and some hedging activities materialized. The weekly survey among active professional portfolios managers also put into evidence more cautiousness from this category of investors.

Very short term oscillator	Positive +
Short term oscillator	Positive +
RVI trend	Positive +
Trend short term (5 days)	Up ​​
Trend mid term (8 days)	Up ​​
Differential of trends	Up ​​
Risk profile6	53 (scale of 1 (low risk) to 100 (high risk))