Leader found ?

One of the questions one has to consistently ask is what could lead the market higher? the good earning from oracle and today from rimm make renewed hope that tech could provide such leadership. No doubt, the good earning from such big names provide huge psychologic support for the market, and can overcome general economic conditions such as FED report today.

Also, the traditional strong December make some die-hard bulls. and the descresed VIX also is a good argument for the bull.

I would argue caution still. at least not until trend is firmly established.

1). There are stress on the general economy, and a real threat of recession.
2). the credit problem can get worse before it get better.

Also, tomorrow is the option expiration day, so, we could see yet another seasaw season. who knows what could trip this market again?