Securities Research Services

Thursday, September 06, 2007

Momentum Lacking

Yesterday's pull back from near term overbought levels was predictable. What is not very predictable is what the market really wants to do next. It may be a few more days before it really shows its hand.

Europe and Asia are up as we write this, so yesterday's losses are likely to be regained once again today. We aren't willing to go out on a limb any further than this at this point.

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