I’m still finding it difficult to get up to speed on investing in Australia and remain more in tune with what is going on in US markets. This Zacks video has some views that mirror my own. [It amazing the difference a day can make. I wrote this post yesterday and now here we are above psychological barrier 10,000 after a strong rise fueled by rising retail sales and strong earnings from Intel and JPMorgan Chase & Co.]

• This earnings season is a reality check. We need to see sequential earnings and revenue increases as well as good guidance to propel the markets higher.
• The last time the Dow was at 10,800 was September 2008. Are we in a better position now?
• There is a larger than normal emphasis on earnings this quarter due to uncertainty. We’re not in a trending portion of the business cycle, we’re in the volatile flux between cycles and these earnings will provide clarity on how close to the new up cycle we are.
• This rally has gone on for seven months. Price gains aside, we’re due for a correction on a calendar basis.
• Technical resistance slight at 10,200 and strong at 10,800.
• Dow 11,000 would represent an over shotting to the upside from which a meaningful pullback to 10,000 could occur and with an overshoot taking the correction to 9,500.

that is my highly edited take on this video. I will continue to sell into this rally as the climb up the wall of worry continues.

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1. Thinking Outside the Box
2. Roundtable – the smartest people in the room
3. You Can Want All You Want