1.   Analysts said the market has been trading in a narrow range in part because investors are concerned about prospects for economic growth in North America.

2.   Analysts said that with the market already trading at a high premium, it needed remarkably good news on the inflation front to keep the buying momentum going.

3.   Analysts say that as the market trades higher, things can get out of line, and they expect the market to give back some of its gains.

4.   And those small markets have traditionally traded at a discount to the bigger markets.

5.   Last November, the market was trading at half its book value, or the net value of the assets of the companies in the index minus their liabilities.

6.   NYSE officials said the market traded without a hitch.

7.   Now the market trades at three times book, making it the most expensive in the region.

8.   Q. So you are looking for the market to trade in a narrow range, near current levels?

9.   Some after-hours markets trade only Nasdaq stocks, others just the best-known names from both the Nasdaq and the Big Board.

10.   Some expect the markets to trade in a narrow range until the outlook becomes a little more certain.