BALTIMORE ( Stockpickr) -- Investors are finger-pointing this morning, looking for justification for the modestly lower direction in stocks to start the final week of February. Plausible explanations include everything from ECB cuts to G20 disappointment to oil prices to Greek debt.
Regardless of what's pushing stocks this morning (in reality, it's likely a combination of all four, plus myriad other factors on investors' minds), a little bit of perspective is needed as we sit just a couple of trading days away from a new month. So far in 2012, stocks have rallied more than 8.6% as U.S. equities post one of the strongest starts in the last decade. And on Friday, the S&P 500 rose to its highest level in nearly four years, testing an important technical resistance level at 1365.
If the index can show some continuation later this week, Mr. Market would be sending a very strong bullish signal to investors.