It sure looks like market is trying to move up. But the Fed is not going to cut interest rate before next FOMC meeting of Jan 30-31. So, market trend is going to depend very much on corporate earning reports for next 2 weeks. There are no great expectations from earning reports this season but what if corporate earnings underperformed the already 'low' expectations!!!  Furthermore, i think, cutting interest rate is not going to be sufficient to correct the increasing credit crisis.

Whatever be the situation, i am in the market for now.

Emini, do u have any idea why Nasdaq is underporming lately?

Is this all because of decreasing consumer spending and grim economic outlook?