[Vanity]

Citigroup earnings down anywhere from 33-73%. Volcker Rule bickering taints wall streets mood. Athens is piled beneath garbage as civil workers go on strike. The country is in uproar for the vote in Greek Parliament Thursday that seeks to eliminate the minimum wage in Greece.

Markets needed this news to get away from significantly overbought status and drive it
down from intense resistance levels. Do not let the recent push up to 1200 levels confuse you, we are still very well within the confines of a bear market. Mact, what's your opinion on the IT trend for this week? I can't see break of 1250, let alone 1230 levels this week. You?

Edit: Might see a move up in markets tomorrow. Bernanke set to speak tomorrow. Goldman Sachs chief econcomist Jan Hatzius is saying this will be QE3 tomorrow. Not sure if this will be the real deal this time, but something is awry with the financial stocks today. DJIA down 200 points and bank stocks are barely taking a significant hit like they always have. At best, they're only down 1-2%. Hrmm.

Hardly finding any information as to what will be happening tomorrow at Bernankes speech. Realize that Bernanke has always advocated "surprise" in his bailouts as to measure how effective they might be.


EDIT: if Bernanke releases QE3, markets will hit yearly new highs. If not, bear rally might continue till 1270 before the next fall. Chime in.