Market Below 100-Day MA

The market is testing this major support level after being closed Monday.

PRE-OPEN MARKET COMMENTS TUESDAY - Last week the market was within striking distance of the all-time high and it fell to the low end of the trading range in a single day. The move wasn't associated with any major overnight news and I feel it was largely program generated. Much of the activity is program generated these days. Buyers and sellers are in equilibrium and the market has been trapped in a horizontal range since November.

Daily Bulletin Continues...