Market Review: Things Start of Well and End With A Fizzle

When I looked at the markets this morning I was very encouraged that stocks were going to be in for a very strong day after the ISM manufacturing came in positive for the first time in 3 months.  Markets climbed, but as Ben Bernanke talked about why they launched QE3 things began to fizzle and for the better part of the afternoon we traded continually lower.

I don't like when you have positive economic data and the markets react they way the did, it usually means that the rest of this week might be a downer, but the silver lining  is that the data was positive, there is still a support cushion on the SPY between $144 and $140 which means that buyers in the market may be ready to buy when we pullback to that level.