The stock market continues to trade in a tight range, reaching the upper boundary of a process that started two weeks ago and that we correctly identified. It may continue somehow until the risk profile index may become more favorable or a new unexpected catalyst happens like positive news on the trade war between the US and China. We mentionned in our previous comments that the cumulative advance/decline line suffered some damage and although it improved somehow over the last few days, it still needs to regain upside momentum.