Stocks Should Be Strong Into Wed On The Back Of IBM and INTC.


The market momentum is strong and stocks are pushing higher this morning. Tech earnings have been decent (INFY, ASML and GOOG) and that is putting a bid under the market. The only good news in the last six months has been earnings and we should see positive price action for another week. The major releases will begin Monday. IBM and Intel will report. Yesterday, J.P. Morgan said that PC sales in the third quarter exceeded estimates. Earnings should be strong and the market will test resistance at SPY 123 and 125. The economic news has been fairly light. Last night, China’s …

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