Earnings Strength Continues

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Well, the prospects for stocks going down in our lifetimes appears to be getting vanishingly thin. Perhaps the VIX is heading to the single digits for good, logical reasons.

Earnings seasons is kicking into high gear this afternoon, and both Google and International Business Machines gave results that are pleasing to after-hours eyes. GOOG is trading around where I've tinted the chart in green; it's a big price move, but on the chart, it's not exactly a breakout:

0122-GOOG

A better-formed pattern is with IBM (whose after-hours trades, as of this moment, I've tinted in green). I would suppose that the bull-run that's been in place since November 16th will simply continue tomorrow.

0122-IBM