The stock market sold off sharply led by the tech sector and high-flying stocks. Is the bubble in some hot spots of the market starting to deflate? Time will tell. Yesterday’s breadth closed very weak : 568 stocks advanced on the NYSE whereas 3745 closed lower. Options traders were a little bit more cautious than the previous days although there are still playing the upside of the market as measured by put/call ratios. Our capitulation index pointed out to marked selling whereas our buying/selling index indicated that investors are buying the dips and that sector rotations are on the way. In summary, it means also that there are still a lot of money waiting to step into the market. Our indicators improved slightly although there is a long way to go until the risk profile index of the market becomes favorable. Our short term model based on prices turned negative.

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	75 (scale of 1 (low risk) to 100 (high risk))