Fear is back with vengeance in this market which has been hit by surprise by a tweet that has already cost billions to investors. The market broke with violence the support at 2900, a level we mentionned several times in our comments and was part of one of our scenario for the summer. The S&P 500 retraced exactly 0,618 X the May-July advance, the most common Fibonacci ratio. For the time being, we stand in one of those situations where catching a falling knife can be very dangerous, everybody has to wait for the dust to settle down. Our fear/greed index and our capitulation index registered record readings for the year. Our risk model is going to improve a lot over the next few days, especially for the sentiment components that should reflect fear and skepticism from market participants after this selloff.