Well it looks like the good news isn’t having much of a positive effect today. We had a better than expected economic report released this morning. After vacillating for a while, the market has begun selling off. The S&P 500 is sitting right on 1,000 as I type. This level should be support. There’s talk that General Electric’s news is trumping the economic data. Besides GE’s effect, the market may be telling us that there’s no one left to buy or this good economic news is already priced in to the market. Or maybe it’s just expiration games.
The Philadelphia Fed Survey will be released at noon. Brace yourselves…
