BALTIMORE (Stockpickr) -- It's "data dump Thursday," but investors don't care this week.
That's because it's the technical factors, not fundamental news, that are ruling stocks this week. Investors feel overwhelmed right now, and that's understandable -- we've been trading anything but a quiet and collected market this year. Drama from Europe, unclear earnings, and more than a few scandals have all contributed to the overload investors are feeling right now.
So that's a big part of why investors are largely ignoring today's data frenzy: jobs numbers, housing data and manufacturing numbers. But the problem is that investors have been ignoring this summer's rally as well. On Tuesday, in "5 Toxic Stocks to Sell Now," I mentioned that the rally starting in June has accounted for 84% of the S&P 500's gains in 2012. That's not some insignificant move upward.
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