The stock market opened on a strong note reaching 2817 before retreating under selling pressure down to 2767 and recovering towards the close. This kind of market action is close to a one day reversal pattern and may foreshadow a consolidation/correction after the swift run up since the beginning of the year. So far, we haven’t depicted signs of speculation among our various indicators to the exception of the weekly sentiment indicators among private investors and active professional portfolio managers where readings are streched.