Market at a Decision Point By Dick Arms About this article: The decline toward the end of last week took the various averages to the levels that had furnished resistance in August and which would therefore be expected to now furnish support. That is exactly what we have been seeing in the last three trading sessions: a bounce off the level, but then hesitation. It appears that the market has encountered difficulty going higher, but it is not yet ready to go lower. Hence the indecision of the last few days. The selling also brought in some unusually bearish Arms Index numbers, showing heavy volume in the declining issues, and pushing the shorter-term moving averages to somewhat oversold levels. That too suggested a small rally or holding action. Now the question is whether the rally can take us through the old highs, or alternately whether the weakness can reappear and penetrate the support of the last few... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200. More Stories From RealMoney Durable Goods Up Move Down the Tech Food Chain Jobless Claims Still High Bulls' Tenacity Is the Big Question Mark Should You Buy It? Pharmaceutical Product Development Bad News Trumps All Support for Banks Holds, For Now Bummer, Yields Are on the Rise Money on the Line Makes a Big Difference Structured Products: Unsafe at Any Price MORE STORIES FROM REALMONEY

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