A Look at Wednesday’s Market Activity:  The overall market moved moderately lower in a broad based move that saw every sector index I track move lower as well.  The weakest sectors were the Gold/Silver, High Tech, Banking, Broker/Dealer, Chemicals, Oil Services,  Commodities, and Transports.  In the commodities,  Oil was lower by $2.24 to $86.29 and Gold was lower by $5.80 to $1,647 per ounce.  In the grain market, Wheat was lower by $.056 to $6.194 per bushel, and Corn was lower by $0.054 to $6.384 per bushel, while Soybeans were lower by $0.256 to $12.25 per bushel.

A Few Thoughts Before the Open:  In looking at the charts from yesterday’s trading activity I have the following comments:

1.  Granted yesterday was down day and most of the indices I follow appear to be tracking sideways;  however a few appear to be showing renewed weakness.

2.  Individual stocks appear lackluster with no clear direction.

The Bottom Line:  I believe we are still basically in a sideways trading pattern.