Stocks saw elevated volume and volatility last week, and the 100-day simple moving average on the S&P 500 proved to be the proverbial line-in-the-sand for bullish investors.

The investing public tends to place a great deal of faith in the forecasts of economists. To be frank, I am not entirely sure why. An overwhelming majority missed the impact that well-documented declines in real estate were having on the economy in 2007.