Today's Open: Down

Stocks End August On A Good Note
PICTURED BELOW: The Nasdaq Composite made encouraging progress by closing (2 points) back above its 50 DMA line for the first time since the correction began on July 26, 2007. That is a sign that the Nasdaq Composite is continuing to lead its peers, as it was the first major average to follow-through and repair its 50 DMA violation - while the S&P 500 Index and Dow still remain below their respective 50 DMA lines. Also, the Networking ($NWX +1.28%) has climbed back above its 50-day moving average (DMA) line and short term downward trendline after a recent test of support near its 200 DMA line. Tech sector strength has been an important factor in the Nasdaq Composite's recent improvements, and helped the tech-heavy index close 2 points above its 50 DMA line Friday.

"U.S. stocks headed for a flat open Tuesday as investors returning from a long holiday weekend awaited further economic data to help determine whether the Federal Reserve will lower interest rates when it meets in two weeks."

For the month, The small cap Russell 2000 Index led the pack, gaining +2.11%, but it still closed below its 50-day moving average (DMA) and 200 DMA lines.

From 24/7 WallSt.:
Europe Markets 9/4/2007
Media Digest 9/4/2007 Reuters, WSJ, NYTimes, FT, Barrons'
Asia Markets 9/4/2007

7 Stocks You Need to Know for Tuesday
Tuesday's list includes: Goldman Sachs, Guess and Donaldson.

Upgrades / Downgrades / Initiations from MarketWatch

Wall Street Breakfast in Seeking Alpha by SA Editors on September 3rd
What you need to know in early trading today.

John Hussman's Market Climate for 9/3: "As of last week, the Market Climate for stocks remained characterized by unfavorable valuations and unfavorable market action. The market has now cleared the oversold condition that we observed several weeks ago, yet breadth and trading volume have not evidenced the strength and persistence that we typically associate with more sustained recoveries from oversold conditions."

Dr. Brett's blog: Market Perspective 9/3: Continued Buying Interest Lifts Stocks Further Off Lows: "Momentum numbers also look quite strong. At +61, my Cumulative Demand/Supply Index is definitely overbought, so it would not be at all unusual to see a pause here. Nonetheless, Friday provided us with a Demand reading of 172 and a Supply reading of only 20."

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