The stock market deceived again investors who were expecting a market rebound beyond the 4200 level we correctly identified as a resistance level weeks ago. Prices fell back under heavy selling pressure as measured by our buying/selling index and our capitulation index. Breadth closed on a very weak note: 678 stocks advanced compared to 3638 that settled down. Options traders increased their exposure in puts as measured by put/call ratios. The weekly survey, compiled before yesterday’s fall points out to some kind of renewed optimism among professional active money managers as the index stands at 50 on a scale of 0 to100. 

Very short term oscillator	Negative -
Short term oscillator	Negative -
RVI trend	Negative -
Trend short term (5 days)	Down
Trend mid term (8 days)	Down
Differential of trends	Up
Risk profile	37 (scale of 1 (low risk) to 100 (high risk))