Stocks are rallying today largely because the economic data is just not good and not terrible. We have had so many recent reports come in below expectations, that today’s retail sales #’s simply point to the slowdown everybody is expecting and don’t point to a catastrophe. The markets will remain under pressure until earnings season starts in a few weeks. Today’s gains may have short lives, but let’s take a good day whenever we can get it.
Regards – Keith Springer