Tech Again

What a week, the day before GS reported, the financials got the market going. After INTC reported a blowout earnings performance in after hours, the tech is off and running once again and the market took off. GOOG didn't blow anything away and the market dumped it. IBM came to the rescue with a positive earnings report and revised its projection upward, and that kept the rally going. AAPL continue its climb, setting up for earnings report next week. The strength continues to be TECH!

Looking at the DJIA and the SP500 charts, the charts show these two indices rallied off the recent low quite nicely and quickly. But Friday's performance shows they could be a bit exhausted and getting ready to pullback for a test. Of course this can be all changed depending on MSFT and AAPL earnings and outlook due out next week. So prepare for another tech week. The earnings report season will be in full steam next week, lot of the companies will report they met their bottom line number, but no growth or shrinking top line. These reports will reinforce the BS on the 'green shoots' claim. If the companies' top line is not growing, economy will not be growing, and employment will continue to decrease.







The three notable techs to report earnings next week, AAPL, MSFT and YHOO: