S&P 500 2733.29 +8.85.
The stock market opened on a very weak note following its european counterparts before recovering and closing slightly up. The S&P 500 is still stuck in a trading range between 2700 and 2740. The weekly sentiment survey deteriorated with a surge of individual investors adopting a bullish attitude and a lot of complacency regarding the downside risk. Most of our indicators stand at a neutral level and some further consolidation would be more than welcome to reset the model to a more favorable status.