








On a week where GM emerged from bankruptcy protection, oil settled below $60 per barrel, and earnings season had its unofficial kick off with Alcoa, the US markets extended their losing streak to 4 straight weeks.
Stocks racked up their fourth straight down week Friday as a Chevron profit warning exacerbated earnings worries. Techs got a boost from an upgrade on the hardware sector.
Stocks traded lower Friday with investors on edge knowing that the pace of earnings will pick up next week. How can you profit during the impending earnings avalanche?
If the bulls are going to put up a defense, this is where it will occur. If they succeed, then this support will act as a springboard for a second run at $75. If they fail, the path towards a $40-handle will be wide open.
