Back from the edge

Just when you think the market is at the edge of breakdown, the Bull get something they needed. 1). csco's CEO thought the economy will be ok.   2). the bailout plan is making progress.   how timely, and the nasdaq back from the edge of being broken.   It is just so funny to see the coincidence how the "positive" news and technical support aligned so well, and no wonder people claim the conspiracy.

It basically point two things out. 1). the market is still trading in the range.   2).  the Bears are just as jittery as bulls.    time for more volatility.

If you happened to have bought some tech shares last couple of days, just hold, we could very well see the nasdaq to raise in the next few days.

Commodities suffered some profit taking, but, given the precarious position of dollar and inbalance between demand and supply,  it could come back soon.

Tomorrow, we will again see some economic news,  the ADP job report has gained more notoriety, and also, the ISM service number are equaly import.  So, together, they could provide some direction for the market.

Of course, you have hear louder whispers about bailout plan and other "good" news, as traders seem determined to keep the trading in a tight band.