Volume on this rally was quite subdued and lower than even recent low levels. The market can’t rally far without the financial sector. There has never been an enduring bull market without financials.
It’s no surprise earnings are coming in above expectations. Even Apple has downplayed future revenues beneath those just released.
Economic data on Wednesday will feature Existing Home Sales estimated to increase slightly to 4.9M from 4.81M previously.
More earnings news will feature among others Abbott Labs, AMR Corp, EMC Corp, Intel, United Technologies and Xilinx.
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