The market was ripe for some good news to provide an excuse for the rally. If it wasn't (Greenspan), it would have been something else.
The market may not be able to overlook Intel's warning, but the fact that it's able to absorb the negative news without a steep price decline is a positive signal.
The whole tech sector jumped after the IBM announcement and it may spark a rally tomorrow. But it's one piece of good news. Could the impact be erased by a subsequent piece of bad news between now and tomorrow? Sure.
Even though the news has been dismal this week, investors have to keep an eye on the July Lows.
Technical indicators help investors avoid downward spirals like Enron. That being said, I don't pay much attention to news. I pay attention to how investors react to news. A good or bad reaction is more important than the news itself.
Technical indicators help investors avoid downward spirals like Enron, ... That being said, I don't pay much attention to news. I pay attention to how investors react to news. A good or bad reaction is more important than the news itself.