Stock Market Update - Wed Aug 15 14:30:01 EDT 2007

[BRIEFING.COM] So much for the bulls trying to shake out another batch of short sellers as their efforts are met with an equally impressive wave of consolidation. The market's knack for selling into strength has been a running theme for weeks now and, as evidenced by the market's latest roller coaster rise, today has been no exception. The Dow came within five points of turning negative.

After briefly turning positive about 45 minutes ago, the Industrial sector (-0.7%) spiking to afternoon lows has removed some notable leadership. The Tech sector (-0.1%) relinquishing its entire advance and the Financial sector (+0.6%) seeing 1.0% of its gains evaporate further underscores the market's hesitation to make any prolonged bets in the face of lingering credit insecurities.

NYSE Adv/Dec 1494/1814...Nasdaq Adv/Dec 1604/1372