Slow Till Jackson Hole

The market is in a news vacuum and this conference will determine market direction. Today will be like waiting for an FOMC statement.

PRE-OPEN MARKET COMMENTS THURSDAY–August is a slow month. The market had a 12% bounce in a month and now we are seeing some profit taking. The bleeding has stopped ahead of the Jackson Hole conference and we might be in for a slow day. In the absence of market driving news, this is like waiting for an FOMC statement and it is the last time we will hear from the Fed in almost a month.

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