The market was pretty trendless today. After an attempt at a rally when news came out that Europe might increase the "firepower" of it's rescue fund the market sold off into the close. The New York averages were up slightly and the Nasd was down slightly. Volume fell across the board and was very light. Leading stocks were generally lower with the leaders index declining 1.45%, also on very low volume. We may get some positive action late in the week with the ECB meeting and the EU summit. There is no question that the leaders will come out of the summit holding hands and singing kumbaya. The question is how many days( or hours ) it will take the markets to realize that this solution isn't worth any more than all the others and start selling off. But it is possible a quick rally could produce an FTD. The 200dma is still containing this rally attempt and it will take a real break above this level to create a real advance. Jerry
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