In an unusual move, 29 of the Dow 30 Industrials declined in price today. This display of investor distain is usually an opportunity to buy stocks.

The fixed-income markets suggest that equities are OK to buy. Credit spreads (the 10-yr. treasury note yield minus the 3-month bill rate) continue to narrow.

Stock market technical indicators are also bullish. The VIX is still coming down while the put/call ratio is increasing.