Last week’s rally fizzled out and internal momentum faded: 1790 stocks advanced compared to 2211 that closed down. There is a negative divergence between the list of new high/new lows on the NYSE and on the Nasdaq as the latter is deteriorating swiftly. Options traders are increasing their protection as they are accumulating puts. We still are of the opinion that the 200 days moving average may be tested during the fall.

Very short term oscillator	Positive +
Short term oscillator	Negative -
RVI trend	Negative -
Trend short term (5 days)	Up ​​
Trend mid term (8 days)	Up ​​
Differential of trends	Down ​​
Risk profile	47 (scale of 1 (low risk) to 100 (high risk))