The stock market continued its buoyant advance, challenging the 3200 level. Internal momentum was strong; on the NYSE, advancing stocks surpassed the 2000 mark for three days in a row, a rare occurrence. It is not surprising that according to various measures, the stock market is overbought like our ten day oscillator based on the advance/decline line, price momentum etc... Ideally, a slight consolidation would be welcome with a possible setback towards the 3150 area.