The correction continues last week and the hot sectors of the market have started to correct some excesses. Our indicators are coming back to more reasonnable levels although they still have room to improve. It seems that some sector rotation have started. It will be interesting to observe if the laggards sectors and value stocks may start to show some relative strength. Interestingly, the cumulative advance/decline lines on the NYSE and on the Nasdaq have come back to the levels we observed in June. It is not unreasonable to think that the S&P 500 may reach the support level at 3300 over the next few weeks.

Very short term oscillator	Negative -
Short term oscillator	Negative -
RVI trend	Negative -
Trend short term (5 days)	Down ​​
Trend mid term (8 days)	Down ​​
Differential of trends	Up
Risk profile	71 (scale of 1 (low risk) to 100 (high risk))