Thu 2/16/12 2:53 PM – Good Market Day so Far

It’s been volatile but the stock market after opening in line with yesterday’s drop rallied nicely. Several of the last few days have had drop or pops as the 5 day chart to the left shows. The market so far is only slightly higher than it was yesterday but that’s OK. A pause to allow a higher market is one way of working off an overbought situation like we have now.

Economic reports on jobless claims, housing starts and factory activity were all mildly postive today.