A Little Bit Of Everything

We had just a little bit of everything today. A very strong start, an intraday selloff, and then a final hour recovery.

Cautionary Fedspeak, a strong ISM Index, ADP employment data, and plunging oil prices were the key trading points. I also suspect that folks who held off from taking profits from 2006 due to tax reasons also didn't waste much time taking those to the bank. Tomorrow looks to be a similar day filled with a number of crosscurrents ahead of Friday's jobs report. As my wife always says, these holiday-shortened weeks tend to be the most challenging and I can't disagree. Have a good evening.