The S&P 500 rebounded from the 2800 support area with good breadth and heavy volume : 2687 stocks advanced compared to 1000 that settled down. Bargain hunters were active as measured by our buying/selling index and our fear/greed index that closed heavily overbought. Our trading model and our risk profile index are fairly neutral which is not really helping for gauging the future direction of the market but it may confirm the fact that the market may continue its period of consolidation/correction.