Uncertainty in the Market

The Dow has been hovering around the 8000 mark for several sessions now. Soaring above that mark would suggest a lasting bull market rally. Stopping right there gives this rally the look of another bear market rally. Earnings have raised to market above and lowered it back down around the 8000 mark. Wells Fargo and Goldman Sachs have each given a great earnings report. Some retailers have had decent reports. Intel gave a great report. So why has the market not moved above 8000?

The similarities in earnings reports this season have shown a slow first quarter with better than expected numbers. The casualty resides in the outlooks for these companies. No one knows what the economy holds or how their companies will react. This is why the market has held the 8000 level.

Obama spoke again today for no reason. Why? I do not know. He seems to keep saying the same thing every time. "We are in a rough time right now. My steps are working. We will get out of this soon." Do we really need this? He is insulting our intelligence. We should be hearing Geithner and Bernanke speak. People who actually work with financial markets. Obama doesn't know anything about money. Get him off the podium.

If you want to judge where the market is headed, keep watching earnings roll in. JPM and C report later this week along with GOOG. These companies should provide some insight. Look for the 8000 mark to hold until we see very significant information regarding the economy, whether good or bad. It has turned into a waiting game. Remember, any game is a game you can win cash money. Stick with it.