The stock market is still struggling in a corrective move against the downtrend that started on the 14^th of June. The S&P 500 may reach the 2750-55 area before the next wave down unfolds and opens the door to a good buying opportunity for traders and investors. In the meantime, internal momentum stays strong, as measured by the daily and cumulative advance/decline line that closed almost at a new high. This confirms our mid term view that the bull market is intact. As mentionned in our previous comments, our indicators still have room to improve before flashing a strong buy signal. In this choppy environnment, our trading model gets churned which is normal and points out to the limit of the systematic approaches CTA and hedge funds managers are using.