Watershed Moment

The stock market has hit a watershed moment. The market is looking for direction and it looks like it will be down for a while. The news on mark to market helped boost the market from 6500 on the Dow to 8000. Now the market will have to stand on its own two feet for a while and that should make it tough to move higher in the near term. News on unemployment, retail sales, and industrial production will continue to drive the market down.