Just As Expected

Today was about what you could expect - lots of chopping around, but ultimately the bulls refused to back down. Again, just about everything I saw today suggests that they're going to try to make a run at overhead resistance.

As more "the worst is behind us" chatter fills the trading desks across Wall Street, the financials again were under accumulation along with some real-estate and technology.

According to Bloomberg, profits have slumped 26% on average for the 61 companies in the S&P 500 that have released first-quarter results so far with financials faring the worst. But, as you can see from trading today, investors could care less. The market is about the future and this week's trading shows they think much better times are still ahead.

Although it will be options expiration tomorrow (a day I usually reserve for the monthly Q&As), I've delayed this month's Q&A to next Friday instead. For tomorrow, I'll be in the trenches with you. See in the A.M.