Can Next Week Earnings Reports Save Us? Probably Not

[GSTLj]

All the major indices are in down trends. The Nasdaq seems to be leading the charge lower. The main cause of the down trends on the Dow, Nasdaq, S&P 500, and Russell 2000 is lowered forward guidance and earnings misses.

The third quarter is the first in three years, where profits are actually declining.

Microsoft, Google, Intel, IBM, all missed analysts expectations last week.

Next week the following bellwether companies are reporting: Caterpillar (Monday), Boeing (Wednesday), AT&T (Wednesday), Apple (Thursday), Amazon.com (Thursday), and Merck (Friday).

The Presidential Election and Fiscal Cliff are two big unknowns that are coming. Markets don't like unknowns. After the election and Congress deals with the Fiscal Cliff, we could see markets rocket higher.

For now we continue to be range bound in choppy markets. :|

 

[Vicorka]

As you see it did not saved anyone. Starting from the beginning of October market ignores positive news and it will continue util the market (indexes) is in down-trend (correction)