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Pre Market Report - February 6th 2008

Looking at a relatively quiet day in the markets today. After yesterdays huge losses today we expect to see a period of rest, or in other words some consolidation. This morning we received Q4 labor productivity data. The headline number on productivity showed some improvement and tonight we will break down that data on the charts and see what it really is telling us.

Futures are telling us that we will have a slight gap up on the open but have already started to pull back slightly heading into the final 30 minutes before the market opens. If the markets are void of any substantial news today then we expect to see a "non event" today with lower volume while the markets wait for the next volley of data or news.