Corona cases accelerating across the USA finally took its toll on the stock market. The selloff hit stocks across the board: 523 stocks advanced on the NYSE compared to 3416 that settled lower, our capitulation index surged to daily extremes and our buying/selling index measured also heavy selling. We started to observe options activity becoming less buoyant than this previous month. It is interesting to note that the US banking sector has been weak recently and is close to the lows of March, not a good sign for the health of the economy. The Dow Jones Transport index has also been a weak spot recently. The weekly sentiment survey among individual investors continues to point out to a lot of cautiousness regarding the evolution of the market over the next few weeks, this our single indicator that is really bullish. The possible retest of the 3000 area is going to be interesting to watch. All trend following models are pointing down.