SHORT TERM: market meandering is spite of good economic numbers.
Overnight the Asian markets were mostly up, and Europe came in mixed after the ECB decided to leave short term rates at the present levels. Early this morning some good economic numbers were released: core inflation rose just 0.1% in July, and consumer spending rose 0.8% its largest gain of the year. But the market seems to be on hold awaiting a speech by FED chair Bernanke later today and the employment report tomorrow. I would have thought the market would be up after those reports. Pausing thus far!
MEDIUM TERM: major indices uptrending
LONG TERM: bullish.