But not for the stock market. The action today was a great example of holiday trading. All the worries and concerns that hit us yesterday were forgotten as market players stayed in a positive mood all day. We even managed to go out near the highs on a late burst of buying. Breadth was superb at better than 4 to 1 positive but, as you'd expect, volume dipped sharply.
We have had quite a bit of volatility lately, and I'm a bit concerned we could see more negatives out of Europe while we are eating turkey and that good stuffing with the walnuts.
The action today did help to negate the ugly action we saw yesterday, but the S&P 500 still hasn't moved back above key resistance at 1200. Things look much better than they did yesterday, but thin trading around the holidays can produce some surprises.
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