BIG BEN AT BAT

The markets meandered through most of the day with dips being bought and rallies being sold and the usual suspects, metals and oils, the winners with biotechs, brokers and trannies the losers. My take is that those sectors are not pointing in a bullish direction.

Lots of chatter everywhere about Big Ben and I am anxious for it to be over. My guess is the longs are in front of much anticipated "bullish news" but if Ben dissappoints it could be ugly.

One final note, Maria all excited about earnings growth of 16% on the SPX, unfortunately, no one reminds her how much of the increase is from oil companies and higher oil prices. Shocking.
And what are those numbers going to look like going forward when oil companies have tougher comps?