The stock market continues to gyrate in a tight trading range between 2700 and 2740,  We observed some selling pressure ahead of the week-end, as measured by our buying/selling index and some interest in the option market to hedge long positions as reported by the SKEW index. Breadth settled on a slightly negative note with 1477 stocks advancing and 1839 that settled down. There is a potential divergence arising between the Nasdaq Composite Index and the S&P 500, we’ll come back on the subject in our next comments.