Down is Up ?

                    NYSE        NASDAQ

Advances	1,882 (56%)	1,758 (57%)
Declines	1,352 (40%)	1,212 (39%)
Unchanged	114 (3%)	127 (4%)
Up Vol*	1,753 (56%)	1,122 (62%)
Down Vol*	1,337 (43%)	653 (36%)
Unch. Vol*	23 (1%)	21 (1%)
New Hi's	180	192
New Lo's	60	61

It is a down day if you just read the headline, if you read a little more into the detail, it is hard to tell.  For one thing, there are more stocks up in both NYSE and NASDAQ. and there are more stocks making new highs than fresh lows.   If this is a down day, we will be glad to have it every day.

What really set the market back is the energy stock, the oil is  retreating, so is the gold and basic material.  In light of the concerns of inflation, all these are welcome news as well.

Yet, the headline of the news media still sounds alarming, for example, on cbsmarketwatch, the headline read "what went up comes down" and the following:

"NEW YORK (MarketWatch) -- U.S. stocks closed mostly lower Tuesday, retracing a portion of the prior day's record-setting gains, as fresh economic data cast the troubled housing market in a dismal light.

"The fundamental news didn't warrant the rally. When we see corporate earnings, companies will acknowledge the economy is slowing down," said Peter Bookvar, equity strategist at Miller Tabak.
.........
"

Sometimes, I suspect all these market comments are written by the computers, because they need to rush out in a very short time once the market is closed. so, it only has to moods.  when the DOW or SP is down, it write gloomly, and when the market is up, it sounds cheerful.

But to us, it is a good news too, as long as there are perceived danger out there while market is racing to new high, we know there will be more fuel stands ready..