Dave's Daily By Dave Fry, founder and publisher of ETF Digest and author of the best-selling book Create Your Own ETF Hedge Fund. March 2, 2010 MIXED BAG MARKET Tuesday markets rallied higher on momentum from the previous session. Positive auto sales were about the only news on the day driving stock prices higher figuratively and literally. Selling took hold later in the session as investors perhaps became cautious ahead of important economic data being released Wednesday-Friday. Volume was again relatively light while breadth positive. Continue to Major U.S. Markets
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Stocks maintained some momentum Tuesday heading into three days of serious economic data. Caution was the mood for most sectors as profit-taking and light volume dominated trading. Below is the economic calendar from Briefing.com. Markets are short-term overbought and volatility could increase with economic data certainly. Let's see what happens. You can follow our pithy comments on twitter and become a fan of ETF Digest on facebook. Disclaimer: Among other issues the ETF Digest maintains positions in: IBB, UUP, MVV, TNA, QLD, DGP and UCO. The charts and comments are only the author's view of market activity and aren't recommendations to buy or sell any security. Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotations aren't predictive of any future market action rather they only demonstrate the author's opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com .