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MarketWatch.com MARKET SNAPSHOT Stocks turn mixed; Nasdaq in the red
by ShepWave.com
Posted: 11/29/2005 14:43 EST

By Mark Cotton, MarketWatch
Last Update: 1:52 PM ET Nov. 29, 2005  [ Page 1 | 2 ]
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NEW YORK (MarketWatch) -- U.S. stocks turned mixed Tuesday as a raft of upbeat economic data failed to provide sufficient upward momentum to take the market to new highs, with some investors now looking to the November employment report at the end of the week to act as a fresh catalyst.

  MARKETWATCH TOP NEWS
U.S. stocks turn mixed; impact of upbeat data fades
U.S. Oct new-home sales jump to new record high
Calpine replaces CEO, shares plunge 40%
U.S. durable-goods orders surge in October
Gold tops $500 in overnight trade
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The Dow Jones Industrial Average ($INDU:

Dow Jones Industrial Average
Last: 10,899.29+8.57+0.08%
2:39pm 11/29/2005
$INDU10,899.29, +8.57, +0.1%) traded to a session high of 10,959.79 after the strong housing and confidence data, before paring gains. It was last up 2 points at 10,892.

The Nasdaq Composite Index ($COMPQ:

Nasdaq Composite Index
Last: 2,235.96-3.41-0.15%
2:39pm 11/29/2005
$COMPQ2,235.96, -3.41, -0.2%) was down 6 points at 2,233 after climbing as high as 2,253.25 earlier in the session.

The S&P 500 ($SPX:

S&P 500 Index
Last: 1,259.19+1.73+0.14%
2:39pm 11/29/2005
$SPX1,259.19, +1.73, +0.1%) put in a fractional gain to stand at 1,258.

"We've had a decent rally and we're just giving back some of those gains," said Mike Viracola, managing director and co-director of equities at Adams Harkness. "We're just taking a pause. It's more buyers taking a wait and see approach rather than any aggressive selling."

For Kent Engelke, capital markets strategist at Anderson & Strudwick, the next significant catalyst to the upside could be Friday's employment report. "In my view, the report will once again demonstrate there is no cost-push inflation in the economy."

On the broader market for equities, advanced outpaced decliners by 18 to 13 on the New York Stock Exchange, while winners and losers were evenly balanced on the Nasdaq.

Volume was 968 million on the Big Board and 1.14 billion on the Nasdaq.

Click on link below to view article:

http://www.marketwatch.com/news/story.asp?guid=%7BE9C92189%2D9B80%2D45C2%2D8B86%2D909BAB9BA1EA%7D&siteid=mktw&dist=

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Reference: Shepwave.com is a technical analysis site for the Major U.S. stock indexes. We use Elliott Wave theory along with our proprietary indicators to give analysis for the Dow Industrials, Nadaq 100 and S&P 500 indexes. We specialize in trading the QQQ and DIA.
 
 
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