Are The Stock Market Bulls Toast?

The stock market bulls may just be toast today
 
The Fortune Teller Speaks:
 
The stock market bulls just may be toast today despite yesterday’s euphoric gains.
 
All Eyes on Wall Street:
 
All eyes on Wall Street will likely be looking at the Weekly Unemployment Claims report released today which indicaded 2000 fewer claims for last weeek, however the Consumer Pice Index Report stayed even and the Core CPI lost a few points.  I am under the impression that any bad data will trigger a massive sell off, considering that the Fed is still tapering $10 billion off per month in asset purchases and that all of this data seems like a mirage anyways.  We are also due out for the Homebuilders Index and Philly Fed reports at 10:00 AM EST, both of which can sway markets substantially.
 
Today is also a huge day for earnings reports, with Goldman Sachs (NYSE:GS), Citigroup (NYSE:C), American Express (NYSE:AXP) showing mixed results already and Intel (NASDAQ:INTC) all reporting their 4th quarter 2013 earnings around 4:00 PM EST tonight.  Today could be bloodbath or another record.  I predict bloodbath.

Overall, we are still in a tug-o-war between the bulls and the bears, as any whiff of good or bad information triggers massive volatility and backlash. When this all stops is anyone’s guess.
 
Hindsight is a Beach and We’re Playing on It:
 
Yesterday we were 100% correct (finally) for the first time this week, and I was pleased to call the all new record high for the S&P 500 (NYSEARCA:SPY) which rose .52% to close at 1848.38. Gotta love these records when the economy still sucks. The Dow Jones Industrial Average (NYSEARCA:DIA) rose .66% and the NASDAQ Composite (NASDAQ:QQQ) rose .76%. Let’s keep the ball rolling.
 
Fun Fact:
 
Both healthcare costs and pet care costs rose 87% from 2001 to 2012. Pets have it good in this country.
 
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