The market erased early losses to finish higher in today's session. The major indexes rose between 0.3% to 0.6%. Investor participation picked up and market breadth was good. What was impressive was the markets ability to shrug off bad economic news and turn losses into gains. We are raising the support/resistance levels on the DJIA, S&P 500, and Nasdaq Composite (see below).

That’s right, I said WIMPS!

I have never heard so much whining and crying and complaining about a market drop as I have the past few weeks. Last week, I pointed out that we had only fallen 105 points from the prior week (10,172 to 10,067) and this week we fell ALL THE WAY to 10,012 to finish the week and you would think the world was ending (again) from the way the MSM has been acting.

You can’t spend earnings! At first glance, this may seem like an odd statement. However, it is an important axiom for all types of investors. Through fraud and manipulation financial statements can be made to look quite impressive, but the cash that arrives in your brokerage account is real.