THE RIDE

One DJIA Futures trade from 12,025-12,055 support to pivot and right on schedule. Maybe the upgrade of CAT had something to do with it as that stock is now about a buck off the afternoon low.

Interesting also how the opening gap lower has been filled in spite of CAT being down $9 or 13%.

Market internals still about 1,000 to the red with NYSE over NAZ and best sector performers remains airlines, drugs, trannies, consumers and brokers.

Simple answer, there is just demand for stocks. Don't know why, don't know when it ends, but in the mean time buying every dip seems to work.