Pre Market - August 22nd 2007

There has so far been little news this morning. Nothing at least that could be considered significant market moving news.

At this time the US futures are up and what I see might happen today is there will be some early buying then more sideways trading action. Any market moving news will change this but without any big news today we are still at the mercy of support and resistance levels. On the S&P an important resistance level is 1455-1465 range. That is a very important price range and I expect that to be a significant resistance level