S&P 500 2979,39 +0,96.
Although the market closed almost unchanged, prices swingued a lot during the day. Initial selling pressure was well absorbed and breadth settled on a fairly strong note: 2226 stocks advanced compared to 1640 that settled down. We observe that these days the Dow Jones Industrials index is the strongest index followed by the S&P 500 and finally by the Nasdaq, meaning that there are a lot of internal rotation among various sectors. We still expect the S&P 500 to challenge the July highs between 3015-3030 before a correction/consolidation unfolds at the end of the month of September.