A slight consolidation took place after the swift moves of the last few days. Our buying/selling index measured fairly heavy selling after record purchases the previous day Breadth settled down : 984 stocks up – 2927 down, erasing somehow the overbought conditions set up lately for the indicators following the advance/decline line and various oscillators measuring internal momentum. Options activity is still focused on calls purchase to play agressively the upside part of the market, this reflects the fact that the mood has drastically changed and this category of market participants is ready to take large bets on the upside, somehow worrisome… Our systematic model based on prices is also very overbought. Some kind of consolidation may continue.