Another day of consolidation in Wall Street with a slight uptick at the close. The stock market continues to work out its overbought conditions, for the time being, in orderly fashion. At this stage, the two main negative indicators, in our opinion, are the excess optimism among various market’s participants. The weekly sentiment surveys among professional portfolios managers and private investors point out to excess complacency towards the future course of the market. As mentioned last week, this is the first time since the beginning of the year that these two indicators are heading into the same direction.

Very short term oscillator	Negative -
Short term oscillator	Negative -
RVI trend	Positive +
Trend short term (5 days)	Up ​​
Trend mid term (8 days)	Up ​​
Differential of trends	Up ​​
Risk profile	75 (scale of 1 (low risk) to 100 (high risk))