Spending Spree

Consumers and businesses may not be spending money as they have in the past, but the government is on a historic spending spree.

While we didn't gain much ground today, we didn't roll over and die either. A few more days of consolidation following the big reversal would be a positive development. Like many of you, I'm also wondering if we're seeing just more end-of-the-month portfolio dressing before the sellers come out in full force again next month, but we'll cross that bridge when and if we have to.

For tomorrow we have a flood of economic data to sort through before Thanksgiving but volume will remain light and trading will likely remain subdued. I know many of you are already headed out for vacation, so let me wish you a Happy Thanksgiving and safe travels.