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All major averages are retreating from their previous highs with Nasdaq taking the leadership role again, except this time to the downside. Some market observers attribute the intra-day reversal to comments made by an EU member on inflation concern. But quite frankly, I think the market deserves a short term pullback anyways after going up more than 15% since the Aug 17th low. The US dollar gets weakened again against major currencies while both Gold and Oil prices are moving higher. Wal-mart\'s higher-than-expected guidance did give the market a boost in the morning but several other retailers were disappointing. Since tomorrow is Friday and next week marks the 20th anniversary of the Black Monday, it will be interesting to see whether history will repeat itself(just joking).
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