August 12, 2008

To say the least we were destined for today’s pullback. This was a textbook pullback in that the action was mild, and the volume was miserably low – all positives for the bulls. Worries concerning financials resurfaced, with some dour news out of JP Morgan (JPM). However, none of it was ground breaking. So today, in the end, may have been nothing more than a mere buying opportunity. We’ll find out tomorrow.

Here’s the Nasdaq and S&P charts…