The stock market sold off sharply, selling pressure was tense as measured by our capitulation index. Breadth closed on a very weak note: 468 stocks advanced on the NYSE compared to 3514 that settled down. The weak internal momentum over the last few days led our ten day oscillator based on the advance/deline to oversold territory. The cumulative advance/decline line on the NYSE and on the Nasdaq continues to point down and is back to the level reached at the end of the month of May. The list of stocks hitting fresh new lows is expanding and has started to surpass the list of new highs, that hasn’t happened for a long time. Options activity was fairly neutral as we may have expected to observe some hedging. Daily and weekly sentiment measures improved as private investors are again very cautious. Overall, our risk profile index improved although it hasn’t reached bargain levels.

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	Down ​​
Risk profile	59 (scale of 1 (low risk) to 100 (high risk))