Yesterday’s violent tumble in the stock market was a sight to behold. A record point loss caused the market to bounce back, but the S&P 500 still closed at a negative 3.2% for the day, which puts it down 7.3% from the recent top on April 23. However, as I noted in my previous post, this is coming off a rise of almost 80% from the March 2009 lows. Keeping this in mind, yesterday’s ferocious drop is not surprising. Whether caused by concern over the spreading Greek economic crisis, recent disappointing economic reports like jobs and consumer spending, or just automated trading machines gone awry, I still see enough underlying positive economic data to remain optimistic about the market’s future.

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