S&P 500 2682,17 +8,72.
The stock market crept slightly higher, recovering some of last week’s losses. Breadth was unconvincing with 1416 stocks advancing and 2187 declining, we observed the same situation in the Nasdaq market with again a lot of short covering as measured by our buying/selling index. The list of stocks hitting new lows is still important and the bottoming process may take time to repair the internal damages the market suffered over the last two months.