The Market On Wednesday

  Good morning. It is 32 degrees and cloudy here in Upstate NY. Temperatures in the 40s are the present trend but as always we are experiencing a lot of gray. It gets gray outside through the winter in this area, a day of sunshine is always very welcome. Maybe we'll get one sometime soon.

  At 8:15 a.m. ET futures are modestly higher and the price of oil per barrel is up. The market is poised to open higher.

  On Monday we read that there was deep concern about the quality of fourth quarter earnings reports and the market went through a strong sell off. Today the articles point to optimism concerning fourth quarter reports based on data from a few TBTF banks released on Tuesday. So, right now the emotion is positive and emotion carries a lot of sway. We could see more of this see saw or not, it's impossible to predict as the market reacts literally moment to moment over these reports.

CNN: Stocks: Optimistic after see-saw moves

...JPMorgan and Wells Fargo posted solid earnings figures Tuesday.

Asian markets mostly closed the day with gains...