Stocks Slightly Higher into Final Hour on More Economic Optimism, Stable Long-Term Rates

BOTTOM LINE: The Portfolio is about even into the final hour as gains in my Retail longs and Medical longs are offsetting losses in my Commodity shorts. I have not traded today, thus leaving the Portfolio 100% net long. The tone of the market is slightly positive as the advance/decline line is modestly higher, almost every sector is rising and volume is about average. It is a positive that the 10-year yield is stable in the face of a jump in energy prices and a good consumer confidence reading. I will closely monitor the bond’s response to tomorrow’s likely above-expectations economic reports and the Fed’s likely upbeat commentary. I expect US stocks to trade mixed-to-higher into the close from current levels on more economic optimism and stable long-term rates.