Peter Cardillo, Chief Market Economist at Rockwell Global Capital believes stocks could close higher this afternoon as options expire. Cardillo also thinks last weeks' dismal jobs report is an aberration and the economy is actually recovering quite well. He points to the mostly positive earnings from the companies that have already reported earnings and the previous jobs reports. Today's higher volume is attributed to options expiration day.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

If you liked this article you might like

Novice Trade: SPY

Novice Trade: SPY

How ETFs Can Boost Your Portfolio

How ETFs Can Boost Your Portfolio

How to Use Options to Your Advantage in This Manic Stock Market

How to Use Options to Your Advantage in This Manic Stock Market

Don't Hate the VIX Game, Hate the 'Tourist' Players

Don't Hate the VIX Game, Hate the 'Tourist' Players

Don't Hate the VIX ETPs, Hate the Tourists

Don't Hate the VIX ETPs, Hate the Tourists