Stock Market Commentary for Monday, July 18, 2005

[Some minor changes in the actual column since Saturday]

[There probably will be no column for Tuesday or Wednesday due to my traveling to Colorado]

The market continued to limp on in limbo mode on Friday as the recent run-up is gradually digested.  The good news was that there was no dramatic amount of negative sentiment evident in the market.  NASDAQ limped to a modest 3.96-point gain, setting yet another new closing high for the year.

The economic data was mixed, but reasonably decent.  No new news here.

NASDAQ trading volume was very light (1.54 billion shares), and breadth was modestly positive, with 1.08 gainers for each loser.

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-- Jack Krupansky