The stock market tried to bounce back after the previous day’s swift decline but erased its early gains towards the closing bell. Breadth is still weak as is the cumulative advance/decline line that came back to the level reached at the end of the month of May. Internal momentum has been weak recently and we insist on this aspect of the indicators we are following because under the surface materialized by prices, the bulk of the market is weak. This is confirmed by the list of new lows that has started to expand recently. Yesterday, on the NYSE only 13 stocks reached new highs versus 132 that closed at new lows. On the Nasdaq, the ratio is 9/72. Sentiment indicators are improving: put/call ratios, weekly sentiment surveys among private and professional investors. In summary, with the recent decline, the market exited the red zone although it hasn’t yet purged all the summer excesses.

Very short term oscillator	Negative -
Short term oscillator	Negative -
RVI trend	Negative -
Trend short term (5 days)	Down ​​
Trend mid term (8 days)	Down ​​
Differential of trends	Down ​​
Risk profile	57 (scale of 1 (low risk) to 100 (high risk))