The stock market sold off after having been disappointed that Mr Powell didn’t envisage to lower interest rates (SIC!). This inappropriate pretext is welcome to bring back some skepticism in the market and improve our model. Breadth closed on a weak note: 1448 stocks advanced compared to 2405 that settled down. The weekly investment survey among private investors is still painting a too rosy picture with a bull to bear ratio above 2. Our buying/selling index and our fear/greed index recorded heavy selling pressure.