Rotation continues, mid and small caps led the pack followed by the Dow Jones Industrials then the S&P 500 and finally the Nasdaq. Internal momentum continues to be strong as measured by breadth (2986 stocks up, 1026 down) and the cumulative advance/decline line. As mentioned in our yesterday’s comment, most of our indicators are still in the overbought zone and need to come back around the neutral level. Options traders are again very bullish, buying a large chunk of calls. 

Very short term oscillator	Negative -
Short term oscillator	Negative -
RVI trend	Positive +
Trend short term (5 days)	Down ​​
Trend mid term (8 days)	Up ​​
Differential of trends	Up ​​
Risk profile	70 (scale of 1 (low risk) to 100 (high risk))