The stock market registered a record surge but it as to be put in perspective as it is just back at the level it was three days ago… Nevetheless, it broke at least temporarily the declining trend and prices closed at the highs of the day, the next resistances lie at 2500 and 2750. Breadth was very strong: 3654 stocks advanced compared to 449 that settled down and our capitulation index reached a daily record in terms of volume directed towards advancing stocks, this is confirmed by our daily buying/selling index that points out to massive short covering. In the option market, hedging activity was less intensive than the previous days and we observed some activity on the buy side.