The stock market tried usuccessfully to rebound after yesterday’s sharp selloff. Breadth stabilized and closed almost square. This second downwave may lead the market to revisit the lows of February and April around the 2550 area before it bottomed out. The key internal indicators to watch are : daily breadth, the cumulative advance/decline line, the list of stocks reaching new highs/new lows and extreme bearish sentiment among market participants.