On Wednesday, the market made a broad advance, adding to Tuesday's gains. The Nasdaq, S&P, and Dow all rose for the 3rd straight day. But the evidence was lacking for an end to the correction, and the current market action appears more like a correction bounce (retracement).

The Nasdaq Composite rose +52 points (+1.3%), and the S&P climbed +19 points (+1.1%). Up volume led down volume by a 7-to-2 ratio, and advancers beat decliners by a 4-to-3 margin. Volume was lower than Tuesday's which showed a lack of buying conviction by the bulls. 

Also, the situation in the Ukraine is showing some escalation as the Ukranian forces are clashing with pro Russian supporters. This is just something to keep in mind because geopolitical events can cause unexpected volatility in the market.

Tomorrow's economic reports: Initial jobless claims, continuing claims, Philadelphia Fed