R.C. Market Report 12.16

• Tomorrow's Forecast: Need to hold up after MS earnings + other news

• Today: There was positive response off of both GS earnings and Fed annoucement. Slight break of 50dma is important but confirmation is needed tomorrow.

• Tomorrow: We did well in getting through two big events today. The next two, MS & RIMM, should have lesser impact on the market. I still expect the market to finish higher by end of week but after a big rally like today, I'd take profit instead of holding overnight. It's not safe enough to buy and hold yet. Everything is good only for a trade.