Tuesday, August 21, 2007

EQUITY MARKET COMMENT

While the equity markets seem to be drifting away from our short term model that has worked so well, they currently look a bit weak.

I would look for the market to work lower to the support levels of 1423, 1413 and 1403.
The time frame for these prices remains at 8/30/07. As usual however, if the price objectives are met before this date then we still have the all clear to enter back into our short term Long and Call positions.

So currently I would continue to recommend caution in the equity markets.


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