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Near-term range intact; Short-covering has ruled today's trading

Into mid-day, S&P still higher by about 0.50% but starting to slip in the last 20 mins , near resistance at 2144-7 area for Dec futs, while most of Europe closed up 1%.  NASDAQ 100 though lagging badly , only higher by +.07% as Tech lags.  Short covering has dominated today with Goldman's "most short" rolling index higher by more than 3%.. so despite this lift in Financials today, it's tough to make too much of today and S&P still holding near last Thursday's highs with a very choppy technical pattern in the near-term-  US Dollar still lower today while both Crude and Gold have bounced.. but very little overall movement in either over the last couple weeks.  Small caps higher by 1% today..  Overall, when looking at stock out/underperformance, KORS, COH, RHT, PHM, NTAP, all up near 3% on the session or higher, while on the downside- CHK, WYNN, MU, PYPL, SRCL all lower by 1.5% or more-  For now, tough to make much of today, but the Important points to reiterate are that markets DO remain range-bound near-term over the last week and seasonally this week following Q3 expiration tend to be negative and has been 20 of the last 25 years-   2122-3 important as support and 2147 resistance-