R.C. Market Report 2.24

• Today: We nearly engulfed yesterday's candle, which would have been very positive. Volume was also bigger than yesterday. I have to agree that Bernanke did look more comfortable answering questions in today's session than in any others.

• Tomorrow: We got half of the work done today as we rallied nicely into the close. Gold dropped and Vix got crushed. We did quite well to set the table up for tomorrow. Tonight we have obama's state of union address but I don't think he'll mess that one up. So the overnight futures market should hold up fine. But I think traders will get cautious before geithner starts talking about the bank plan. We've been burned once before, so if there's a rally in store, it'll happen after geithner finishes successfully. Let's hope today's rally doesn't go to waste.