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Each evening we focus
on the most interesting aspects for the upcoming trading
day. The comments are based on observations of the nightly
updates of the Stocks/Sectors and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.
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out “Bow Ties,” my latest trading lesson.
face=”Arial, Helvetica”>At the time this is being published,
the S&P Globex futures are trading up 0.25 points and
the bond market is unchanged.
face=”Arial, Helvetica”>On Monday, the Nasdaq had a decent
early-morning rally that gave way to drifting and choppy
action later in the day.
face=”Arial, Helvetica”>The Nasdaq 100, while up on the day,
bumped up against resistance near the 4,000 level.
width=”470″ height=”320″>
face=”Arial, Helvetica”>Once again, the VIX hit 13-month
lows and is just shy of taking out its July 1999 lows. As
you know, low readings on this contrarian indicator suggest
complacency —