How the market interprets some of the earnings next week will be the broader focus,
There are certainly negatives out there, ... But the psychology has changed and the bad news isn't having as big an effect on the broader market.
For some reason, today we're painting the whole picture with a broad brush and a few profit warnings are really damaging that landscape for the companies that are good (performers).
What I like about today is that all of the main S&P sectors are higher, which shows broad strength for the market. And the consumer confidence number suggests optimism about the start of 2005.