The word is "earnings."
Earnings reports will be pouring in all week. There will be hideous news, examined to see if it is as hideous as financiers had expected. There will be some neutral news as in, company x did just what we thought. And there will be a surprise bright spot in an endless expanse of utter blackness.
I predict two rally days this week, and conversely three stinkers. Overall by week's end, I predict we are lower in the DOW and S&P than today.
Right now the DOW is at 8,131 and the S&P is at 869.
Reuters: Nikkei edges up after earnings reassure Wall St
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