S&P 500 2712.92 -39.09.
The stock market fell sharply on heavy selling, as measured by our buying/selling index. The potential second wave down, we mentionned in our previous comment, is under way. We expect that this market move may finally open the door to a good buying opportunity for investors and traders with a low level of risk. Breadth settled on a weak note: only 620 stocks advanced on the NYSE compared to 2306 that settled down. We observed some hedging activity in the option market but nothing extreme at this stage. Again, we expect that some skepticism may arise in investor’s mind in the next few days and questions over the sustainability of this bull market. Fear and greed are the drivers of the market, we mentionned it several times, there is still not enough fear actually.