Finally, fear is back into this market and the latest market action is going to bring our indicators to a more favorable status. We observed a lot of selling pressure, as measured by our buying/selling index and our capitulation index. Options traders were active and protected their positions by buying puts. We mentionned in our previous comment a potential divergence between the Nasdaq Composite Index and major indexes, this one continues with the Nasdaq holding far better than the other indexes. Our model is pointing down like other systematic approaches and trend followers may continue to try to play the downside of the market. The struggle between bulls and bears continues.