S&P 500 2826,15 +22,88.
The stock market followed through at the opening its previous day’s advance before succumbing to some selling pressure, as measured by our buying/selling index; it finally closed almost at the highs of the day. This kind of price action is positive although breadth wasn’t really impressive: 1856 stocks advanced compared to 1688 that settled down. The systematic models are on the verge to turn up and that may add buying power. The weekly sentiment survey among private investors is positive with a bull to bear ratio of 53%, historically a buy signal. Daily sentiment indicators measured in the option market are neutral to positive.