Apple posted the most blow out earnings ever and the futures are down. Futures were up a total of 5 points at their highest last night. Now they're down 5. Maybe it's a State Of The Union hangover. I wouldn't know; I was watching Goodfellas. I'll read the SOTU transcript later.
The S&P hasn't really done anything yet since the 1322.28 highs except make two perfectly symmetrical down legs (of equal length). Unless we get an extension today or tomorrow, and preferably on an increase of volume, the market could easily grind higher.
But here's a pertinent comment from @NicTrades that sums up the situation well:
Bull rallies don't end on bad news they end when market stops going up on good news. Let's see what the Apple rally does today $$
Good advice. I'll add one thing. Remember that gap at 1289.09 on the S&P?
Either we get another new high or that gap gets filled. That's my bet.
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