Market Update

The bounce after the lunch period held. In no way does this mean we are out of the woods. The charts will tell the story when I go over the sector and broad market indices tonight. At first glance we are still on the 1st floor (see my earlier comment).

In after market activity I'm seeing a bit of profit taking from today's bounce. Not heavy but still it is showing an unwillingness to leave profits sit over night on the part of some.

A full analysis if the market later tonight. The market is in a state of turmoil here. We must know the overall direction before getting too aggressive with new swing trades. Otherwise we are throwing money into a fire. I have some swing trade setups and I will post a few of them but we will play them with the utmost of caution if the market says to give it a try.

In after hours earnings reports coming in so far they are generally mixed. I don't see any market movers except for Sun Microsystems which had a decent number.