Boy, the retail sales number today was terrible. The only strength I saw in the report was in food & drug stores, restaurants and home stores. I can see why retail stocks are having such a hard time. The S&P did bounce today off of 1988 to close at 2011. I was encouraged by the turnaround in oil today. WTI closed up 6% today after being down around 3%. If earnings are good and oil can form a bottom here, then the market may be able to begin a rally off of today's rebound. If the weakness in oil returns then stocks will quickly continue their march lower. I liked how stocks closed today though. Lots of good reports coming up. First, being Intel INTC tomorrow. This will give semis direction after positive pc sales data was offset by broad market weakness. Biotech showed some relative strength today up +0.4%. Utilities were the best performing sector, up +1.0%. Energy did manage to close in the green, up +0.1%. That is a positive sign for tomorrow. Continue to keep an eye on oil, which is still leading the broader market.