There is a stampeed into the biotech arena after the AMGN report. Seems like even that sector is starting to suggest a last fling type move. The key today, in my opinion, is Greenspeak and the chips. INTC is such an important barometer and if it appears that it really is breaking back down that will weigh heavily on what has been the leader of this charge higher. Tomorrow offers up a spate of earnings after the bell with GOOG and MSFT leading the billing. MSFT usually is in line and GOOG has beat wildly so far in it's earnings. That could continue but that's kind of a one pony trick I think. So, I think we have seen the big earnings for the week unless MSFT surprises which is uncharacteristic.
Chips are down 2% out of the gate. For the day, watch that sector carefully and watch to see if Greenspeak offers any bones to the bulls over the next couple of hours.
Chips are down 2% out of the gate. For the day, watch that sector carefully and watch to see if Greenspeak offers any bones to the bulls over the next couple of hours.
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