Risk Appropriate

As mentioned in other posts, managers are buying NQ100 for the long haul. Along with treasuries, the NQ100 is viewed as risk appropriate in an environment where performances have been hurt by various contrived strategies. Traders will look at Friday's commercial paper action to get a read on the taste for business debt. Despite positive action over the last several days, the market is vunerable to reversals. The August 8th highs are the benchmark for relative strength and could indicate technical roll over if not recaptured soon.