The low volume rally continues with news being spun six ways from Sunday. Today it was carryover optimism from last week's winners Google (GOOG) and JPM and today's rationale seemed a stretch: "Gannett revenues down; results top expectations", "Eaton Corp sees improvement in key markets" and "Hasbro rose on cost cuts". Oh yeah baby!

In the meantime, we await Apple and Texas Instrument earnings. Further investors are oddly joyful in high oil and commodity prices as they look at recovery prospects more than increased costs. Fed Chairman Bernanke seemed to give a green light to further dollar declines when he suggested China should spend more and Americans spend less. Did I get that right?

As stated, volume was on the light side and breadth was as positive as you'd expect.












































Below are some After Hours quotes.









































































































Thomson-Reuters stated today that earnings were lower by 22% for those companies reporting thus far which compares to 24% lower for the previous period. That's not that great is it?

The bottom line is stocks globally continue higher, the dollar continues to fall, commodities rise and bonds remain in some altered universe.

Apple (AAPL) beat by a mile and Texas Instruments (TXN) beat marginally. So stocks are higher in after hours trading and should rise tomorrow. What can stop this from happening? I don't know, but that's why they play the game.

We've got more earnings tomorrow and more economic data.