Rumors…
Rumors, news and speculation continue to haunt
this market. The latest, an anthrax report out of NYC, has sent this market
sharply lower.
S&Ps are at 1079, above what we see as very
important support at 1079. Earlier, at mid-morning, the market slowed down
considerably to trade in a support area of 1091 to 1089. If this
market’s fears are calmed, we could return there, but this remains an emotional
and jittery market.
Nasdaq is trading at 1360, below the 1380 support
on the anthrax report. Earlier, we were largely in a range between 1404 and
1380.  If the market is calmed, we could retrace back to this
neutral area.