Stock Market Commentary for Tuesday, June 21, 2005

The market may now essentially be in a holding pattern, as we go into "Fed Watch" mode for the Fed FOMC meeting next Wednesday and Thursday.  People blamed early weakness on "skyrocketing" oil prices (no new news there), but the market actually bounced back from most of that trader-induced frenzy, with NASDAQ declining by only a very modest 1.98 points.

NASDAQ trading volume was very light (1.45 billion shares), and breadth was moderately negative, with 1.41 losers for each gainer.

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-- Jack Krupansky