Rally Sustainable? - Market Analysis for Jan 18th, 2006

The 2-3 PM ET hour has started a recovery rally within an otherwise bearish profile for the session... We have to wonder if the rally is sustainable into the closing bell-- ahead of earnings announcements from EBAY and AAPL (among others)? We should not be surprised to see some long side liquidation ahead of the bell to protect against a repeat massacre from yesterday evening...Let's take a look at the BIG picture of the SPX...Heading into the final hour of trading, the Qs are attempting to turn up off of key support at 42.50, and ahead of this PM's earnings report on INTC, IBM and YHOO...

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