DOWN IS THE LEAST RESISTENCE

Most international markets are in green, and futures are up across the board. You can almost feel that faders are going to come in. Commodities are rather weak, with gold and copper again in lead. The market will be rather slow and quiet in the next week or so until the Fed speaks, even though nothing will surprise anyone. Then the earnings will take over. Earnings will be good, although comparison might be a bit difficult. Would good earnings fuel the market? I doubt about it. In the absence of meaningful news, the least resistance for the marekt is, unfortunately, DOWN.