Monday there was a lot of excitement over IBM earnings as the DOW and S&P 500 traded up into the close. CNBC reporter Maria Bartiromo made the comment “the stock market is on fire” as the market closed. Then IBM released its earnings results which displeased stock traders.

Matt Frailey of Breakpointtrades just sent me his technical overview of the stock market. In this overview he takes a look at the general market, goes over how to use several key technical indicators to trade the market, and goes over his outlook for gold and gold stocks.

Today earnings season is starting with a bang as Alcoa beat its earnings estimates after the close yesterday. Its stock is currently trading up 4% in pre-market action.

Traders have aggressively bid stocks up over the past two weeks and there is pure excitement in the air on CNBC this morning that more companies will beat estimates over the coming weeks.

This week earnings will start to come out for corporate America and last week traders bid stocks up in anticipation of some great earnings results.

Today Alcoa reports. Tomorrow Intel will report while on Thursday Google and JP Morgan will announce their second quarter earnings results.

Yesterday the S&P 500 rallied over 3% while the DOW rose 274 points. This move caused the VIX to fall 9% in a session. It is now down over 22% in the last four days as fear and panic in the market has now been replaced by bottom calling.

I am glad to see the market go up. I hope and expect it will go a little higher, but I still believe this is a bear market.

I just did a podcast with Dave Skarica of addictedtoprofits.net on the stock market. Both of us think the trend of the market is down although I am probably more bearish than Dave overall. He is still finding a few stock gems that are able to go up despite the market drop.

I just did a podcast with Dave Skarica of AddictedtoProfits.net about the stock market. In this interview I asked him about his take on the broad market averages and also gold and gold stocks which are near their 52-week highs. Dave also noticed some interesting things in the trading action of the dollar and commodities, which he made note of.

I just did an interview with Matt Frailey of Breakpointtrades.com. Right now I do not think we are in a market that is going to rally for months from here, but instead is going to be very choppy and will just end up shaking out people who try to buy and hold right now.

Ike Iossif and I did this interview about the options service we are putting together. In this discussion we also talk about how to successfully trade options. Ike has over 20 years of experience trading options. We talk about how what we both have traded has changed over the years as the the market itself has changed.

Have a video for you, but before we get to that you need to know that on Monday we opened up the WSW Power Investor Service to new subscribers. To join go here.