PRE MARKET

Markets may be in sit mode now. This is not a bad thing. IF MARKETS ARE GOING HIGHER, sitting for a bit or (hold your breath) actually pulling back is a good thing. It works off froth, puts some doubt back into the game and elongates bases. Of course, IF MARKETS ARE GOING LOWER, we will start to see a bunch of important areas roll over. So far, just a few areas have trouble. We have mentioned areas like MANAGED CARE but other areas that are pulling back (like FINANCIALS) are just pulling back. We are seeing no real breaking down. If that changes, we will let you know. The quiet pullback has been so nominal that one good day would take care of it.