Markets Break LosingStreak – For Now

· The US stock indices closed higher on Thursday,breaking a 5-day losing streak.

· Stocks are poised to open the morning lower byabout 0.5%.

· Overseas Japan was down slightly with Hong Kongfinishing with a minimal gain.

· The European stocks are red across the board.

Stocks Moving

· Nike (NKE) reported better than expectedearnings and revenue numbers yesterday and the stock is up 7% this morning to anew all-time high.

· JC Penney (JCP), the struggling retailer istumbling even further this morning after announcing a secondary offering afterthe bell yesterday.

· The market is prepping for the end of the thirdquarter and there could be some above-average volatility in individual stocksin the next 2 trading days.

Is this a HealthyPullback?

· So far so good for the market and the post-Fedselling.

· The pullback has hit the 2% level.

· The S&P 500 remains above the 50-day movingaverage (1680) and price support (1670-1690).

· Volume has been average at best this week on theselling.

· All signs point to the current pullback as beinghealthy and a buying opportunity is likely to appear between today and nextweek.