Bulls stayed alive with a big move today but volume was still light while VIX got crushed, a hallmark of recent rallies. Higher-than-expected unemployment claims and comments from Fed board members ignited hopes for quantitative easing once again. Optimism about China ‘s GDP forecast and positive earnings season expectations also helped. Google ran up all day and the numbers was good enough to give it a small additional boost with the stock split dividend after hours. We have some bank earnings in the morning and news out of China tonight, so there are plenty of catalysts tomorrow. Will the bulls want to take some profit before the weekend? Apple was also red on a very strong rebound today, is it topping? Resistance from the recent sell off will be coming up shortly between 139-141 SPY and 81.60 on the IWM.
