My 2nd admitted I got fooled by looking at the Russell, which did in fact go up for the week.
Also, shooting star? Whatever. The next week could be a downer because it's the week before earnings start to roll in, and maybe they'll pull back in anticipation, or dread, or something.
The bottom of the recently demised correction was July 1, two weeks before Alcoa's report kicked things off last quarter, as a matter of fact. Earnings were very nice last quarter, and really the only reason it went back to test 1050 was that some of the economic reports were a bit off. The stock market is about companies and how they're doing, though. It's related to the economy, but it's not the same thing at all, although you'd think it from the way the bears characterize things all the time.
If the economy's crawling sideways, which is what everyone thinks it's doing right now, companies can do very well anyway.
