Weak Corporate Earnings...

The Dow contracted another 125 points today on the bad earnings season so far. Even the continued drop in oil price could not provide some upwards pressure.

The Dow is right at the bottom of its short term neutral channel bounded by 9000 - 8500 now. If the Dow ends significantly lower tomorrow, it would break the short term neutral trend and threaten the integrity of the intermediate term neutral term with a channel bounded by 9500 to 7500.