R.C. Market Report 12.3

• Tomorrow's Forecast: Bears Strike Back, Bashfully

• Today's action adds to the belief that we will not make new lows. After a choppy session, the market put up a healthy 270pt gain. I thought it was a pretty good counter by the bulls. Volume was heavier than yesterday.

• Tomorrow: Eventhough it was nice to see the bulls put the brakes on monday's slide, I think we'll get more selling pressure tomorrow. I expect it to be less severe than Monday's and hopefully the volume won't be too heavy. More rangebound trading to continue.