The stock market continued to fall sharply with heavy selling pressure, as measured by our various indicators. We estimate that the fall since 2800 is 2/3 over with an ultimate price objective at around 2500. The stock market should start to stabilize with intermediate subsequent sell offs but with a lower magnitude than what has been registered over the last two days. Finally, hedging activity increased a lot and sentiment indicators are heading into the right direction. Our global risk profile index is entering into an attractive zone.