Today we have mixed thoughts about U.S. stocks.  Benchmarks continue to face resistance near the August/September highs.  The good news is that this rally started lower and is lasting longer than the previous failed attempts.  A period of sideways consolidation may help set the stage for a more sustainable breakout.  Some higher volume would be nice, too. Economic data also contains some glimmers of hope for bulls.  Industrial production accelerated in September, as did retail sales.  A 15% rebound in housing starts was also encouraging.  We would note, however, that housing starts are not the same as housing completions.  Housing sales are yet a different measure.  Federal Reserve efforts to backstop mortgage securities are no doubt giving builders easier . . . → Read More: Mixed Signals, Mixed Markets