It was a pretty strange day. Logic would argue for a big rally following earnings from Apple, Texas Instruments and Caterpillar; but no, instead investors focused on weaker than expected housing data and sold. It's like I said at the end of last night's commentary: "that's why they play the game."

As this is written, the "better than expected" earnings are rolling in from the likes of Yahoo and SanDisk. Both stocks are bid higher in after hours trading.






And volume is repeating the previous pattern of being heavier (although today's volume was hardly "heavy") on selling than buying. Breadth was negative.

























































































































































A pause? Well why not. Earnings are still coming in and with markets much overbought interim nervousness remains. Barring any serious news I'd thought we'd have a big up day but investors ran the other way because of slack housing news which seemed a little odd.

How about Jesse's Café Americain really knocking the cover off the ball with excellent investigative journalism regarding the "color of money" in government courtesy of Wall Street. It's enough to make you sick.




If you want to see the rest just go to his website.

That's it for me. More earnings on tap.