Market Alert - Afternoon Session

Chairman Yellen believes a rate hike in March if the economic data comes in as expected. Specifically, she said it would be 'appropriate to gradually increase the FFR if the economic data continue . . .'

The result is a rally? Nah, but a recovery from some modest selling to the flat line.

SP500 -0.92, -0.04%
NASDAQ 0.32, 0.01%
DJ30 3.49, 0.02%
SP400 -0.09%
RUTX -0.38%
SOX -0.12%

Massive mediocrity to close out the week as the indices hold the Wednesday surge higher for the most part with a 2-day test. Think there will be a late move higher? The ETF rebalancing ahead of the weekend may just provide that move again.

Most plays are holding up but chips are struggling. Will if they recover toward the close and MET falls toward the close.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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