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Looking for a higher high tomorrow with IBM beating estimates, but I think we finish lower on the day. This will keep all the bears in their positions.
Many technical analites are extremely bearish because of 50 and 200dma breaks.
If this pattern plays out, bears will consider the failure at the high weakness and will either [¡¦]

Two Index Changes from S&P

IM, Ingram Micro will replace Neiman Marcus on the S&P 400 Mid Cap Index. Another change to the S&P 400 is the swap of KEA, Keane, for GME, Gamestop.
Laserscope, LSCP, a medical laser company, will replace Electronics Boutique Holdings Corp., ELBO, in the SmallCap 600.
Both changes will take place at the end of trading Friday.

Looking at the futures

Looking at the futures, it appears the market is setting up for a relief rally on Monday. Be careful. This is either setting up for a top or a bottom. Depending on which way Monday goes. The futures are up nice right now, but if the day ends up selling off, we may be looking [¡¦]

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