The market flopped around early as it tried to bounce back from yesterday's selling and managed to gain strength as the day progressed. Volume was light and the buyers weren't overly aggressive.
We had some strong pockets of momentum in select groups like Chinese Internets, and some of the big-cap momentum favorites like NFLX, PCLN, LULU and AAPL acted well also. That really helped overall sentiment and helped to produce a strong finish, which has been relatively rare lately.
The issue now is going to be earnings and, so far, we have some pretty ones this evening from IBM, WYNN and VMW.
INTC is the one that tends to be the biggest market mover, and it just came in with some solid numbers. It is trading up strongly, but it has a tendency to fade the next day even when the numbers look quite good.