Market Comment 02 17 10

During the past week the stock market has staged a good rally off the recent lows. At this point, the rally has been sufficient to end the steep intermediate-term downtrend that started in mid-January, but not yet sufficient to clearly reconfirm the bull market that started last March. Until the market breaks through the January high risk will remain higher than normal.

On a short-term basis, conditions have improved for both stocks and junk bond funds. We continue to monitor the market, looking for further confirmation of a sustainable uptrend.

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