A generally positive session on the last day of the month/quarter but trade was choppy and confined - inside day. The IB at the base of support could lead to expansion tomorrow. At the moment we look well positioned to bounce technically, but news and economic data will, no doubt factor in.

After Hours Summary: LEH -3.0% (to offer 3 mln shares of convertible preferred stock; Moody's downgrades some Lehman XS Alt-A deals); IBM -1.4% (learns of temporary suspension from new business with U.S. Federal Government); DELL -1.2% (is undertaking a strategic assessment of ownership alternatives for its Dell Financial Services financing activities).