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The market has just been going through big swings this week! This morning, both CAT and UPS reported strong earnings and buyers rushed back into the market. CAT finished the day up +1.69% while UPS jumped +5.23%. FDX outpaced UPS, rising +6.08% (it does look like both FDX and UPS can run much higher...

The market started off strongly on strong earnings from MS, WFC, and FCX. MS ended the day up +6.26% at $26.8; it traded as high as $27.89. WFC closed only slightly higher, but, did trade up to $27.6. FCX traded above $68 before closing at $66.06, up +2.71%. However, as Bernanke started to give his testimony...

Yesterday, the market eked out a small gain, ahead of IBM and TXN's earnings. Then, both IBM and TXN disappointed investors with their quarterly reports. Today, the market open gapped down, but, started to bounce almost immediately. Both BTU and STLD delivered solid earnings and commodity sectors...

Last weekend, I forecasted : " For the new week, it will be about the earnings. If the earnings are strong and confirm the strength in the economic recovery, the market can continue to rally. Otherwise, the market could turn down to test the recent lows again. On Monday, we'll hear from AA and...

As discussed in my Market Forecast this weekend, I was looking for more selling pressure to test SPX 1040. The market was weak in the morning and sank as low as SPX 1042.17. Techs were especially weak today. However, the miners drew some buyers back in and stayed strong most of the day: CLF +4.42%, BTU...

Last weekend, in my Market Forecast , I wrote: " For the new week, the help that eurozone governments have committed to Greece should inspire the market to a strong start. We could easily see SPX 1200 tested. Nasdaq can rise to test 2480. We'll also see the beginning of the earnings season,...

Last night, China reported a soft CPI number, easing the fear of inflation. This morning, US jobless claims fell. In addition, favorable news regarding support for Greece's debt crisis came out of Europe , although it is still unclear what actions will be taken coming out of the EU meeting. These...

The market opened slightly higher this morning. But, within the first 30 minutes from the open, the market slid into the red. Before the end of the first hour, the market started to drop sharply! In the Trading Room , I warned our members promptly: January 21, 2010 7:26 AM VIX green, be careful... January...