U.S. stocks saw modest..............>

US STOCKS CLOSE: U.S. stocks saw modest profit-taking on the day, but managed to

recover from more sizable opening losses.

- The S&P 500 closed down 0.04% at 2,474.02, after trading in a 2,462.08 to

2,474.41 range. At the close, the index was up 10.5% year-to date.

- The Dow Jones Industrial Average and S&P 500 posted record intraday highs of

22,179.11 and 2,490.87 respectively Tuesday. The Nasdaq Composite posted a

life-time high of 6,460.841 July 27.

- Players were also keeping an eye on the Russell 2000 index, which often leads

turns in the U.S. equity cycle.

- The Russell 2000 closed at 1,396.94, after trading in a 1,393.24 to 1,409.78

range. The index posted highs near 1,452 on July 21, July 25 and July 26 and has

struggled subsequently despite the run-up in the DJIA.

-Earlier, the Russell 2000 flirted with a larger support zone of old lows in the

1,395-1,400 from mid June to early July. A clear-cut break below that support

zone would target the June 6 low of 1,386.704 and then the May 31 low of

1,354.855.