S&P 500 2979,63 +3,68.
Gamma trap: this is the phenomenon we mentionned in our yesterday’s comment. The following link explained in depth this technical occurrence. After a weak opening, the stock market recovered and continues to show resilience to any selling pressure. Most of our indicators are hovering around the neutral level and the correction/consolidation may continue during the summer doldrums until the start of the earning season, a potential move by the Fed may also revive the trading activity.