4/2/12 open outlook.
Q1 earnings season begins 4/10 with AA. favs ibm 4/17 bac/goog on the 24 and aapl 4/24 4Q was worst since 2008 for companies beating estimates, thus expectation appear low for Q1. If companies have been successful in pushing cost trimming to the bottom line,albeit they have been doing this for a year and it may be maxed out, a surprise showing will accelerate the market.
weakness? then market worry/fear pushes us back to 1370 area. Until then, narrow s/w PA channel can be expected. BOT range run will continue to have a slight favor over break outs until the markets begin to reflect a change in earning data. The expected is priced in. TBD the unexpected.
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