They just had to invite that party-pooper Bernanke to congress today to cheer everybody up didn't they.
Worse than that, since the markets hate uncertainty, that had to be his message...
The economy is "Unusually Uncertain" was the keynote of his responses today. This from the self-proclaimed and widely hailed historian of recessions, depressions, crashes and lowered expections. Apparently his helicopter ran out of freshly printed dollars...back to the mint.

While we didn't retrace ALL of yesterday's gains (on the SP500), it was enough to get the shorts excited again and the bulls frustrated.

Meanwhile back at the ranch, techies like Netgear, Xilinx, F5, Amphenol and the like all guided higher..continuing the push towards an exceptional earnings season. Of the 100 (20%) S&P 500 companies who have reported Q2 results, 76% beat estimates, 13% were in-line, and 11% were below estimates. Not bad for a faltering economy.