Securities Research Services

Wednesday, August 15, 2007

Support or not Support, that is the Question

Yesterday the market tested the very limits of support in the trading range we provided yesterday. The Dow broke through, but it still has uptrend support, which could hem it in for another few days.

Technically the market should bounce here. It's oversold, fear is spiking, and it's at support.

Now, whether or not the market is interested in paying attention to technical support levels or not is another question. We shall see.

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