Stocks higher inpsite of weaker guidance. How long can this last ?

As said in my earlier article, http://www.freefdawatchlist.com/2012/01/ecb-fine-tuning-operation-is-causing.html ECB is conducting fine tuning operation on Jan 17th, we have seen market opening higher on same fine tuning operation on Dec 20th, 27th, Jan 3rd and Jan 10th. http://www.ecb.int/mopo/implement/omo/html/index.en.html (check Adhoc communication for next upcoming date). The market is likely to open higher tomorrow. After close of market EUR/USD will sell off and fall, below at 1.25 level.


Meanwhile US earning season has begun with companies announcing disappointing earning and lowering guidance, one after another. AA and JPM have already shown how this earning season will turn out. Fourth Quarter is considered to be the strongest quarter for any company, yet S&P500 companies have lowered their earning guidance, shows where US economy is heading. US stock market is moving higher on the hope that things will get better. This hope has been going on for past 3 year because of the free money printing press run by FED and ECB. Free money is not a good sign, FED and ECB are raising the risk of deflation everyday.

Hope has never worked for the stock market, sooner or later market will come to reality. Below is the list of companies lowering/raising guidance for fourth quarter earning.

S&P 500 Companies' Fourth-Quarter Earnings Guidance

Ticker	Company	Date	Guidance	Estimate	Direction
ABT	Abbott Labs	10/19	1.44	1.43	Positive
ADBE	Adobe Systems	9/20	0.61	0.58	Positive
ADBE	Adobe Systems	11/8	0.61	0.60	Positive
AFL	AFLAC	10/27	1.49	1.55	Negative
AFL	AFLAC	12/7	1.47	1.52	Negative
A	Agilent Technologies	11/15	0.68	0.70	Negative
APD	Air Products & Chemicals	10/21	1.35	1.45	Negative
APD	Air Products & Chemicals	11/22	1.35	1.36	Negative
ARG	Airgas	10/27	0.97	0.97	Negative
AKAM	Akamai Technologies	10/26	0.39	0.39	In-Line
AGN	Allergan	10/26	0.98	1.01	Negative
APH	Amphenol Corp	10/19	0.70	0.79	Negative
ADI	Analog Devices	11/21	0.48	0.59	Negative
AIV	Apartment Investment& Management	10/28	0.41	0.43	Negative
AAPL	Apple	10/18	9.30	9.00	Positive
AMAT	Applied Materials	11/16	0.12	0.18	Negative
ADSK	Autodesk	11/15	0.44	0.44	Negative
AVB	Avalonbay Communities	10/31	1.21	1.27	Negative
BAX	Baxter International	10/20	1.17	1.17	Negative
BDX	Becton Dickinson	11/2	1.15	1.43	Negative
BBBY	Bed Bath & Beyond	9/21	0.85	0.86	Negative
BMS	Bemis	10/26	0.39	0.55	Negative
BIG	Big Lots	12/2	1.63	1.63	Negative
BWA	Borgwarner	10/28	1.22	1.21	Positive
BSX	Boston Scientific Corp	10/20	0.10	0.10	Negative
CCL	Carnival Corporation	9/20	0.28	0.36	Negative
CCL	Carnival Corporation	9/30	0.28	0.29	Negative
CTL	Centurylink	11/2	0.60	0.33	Positive
CERN	Cerner Corporation	10/27	0.52	0.52	In-Line
CB	Chubb Corporation	10/20	1.65	1.65	In-Line
CSCO	Cisco Sys	11/9	0.43	0.42	Positive
CTXS	Citrix Systems	10/27	0.76	0.74	Positive
CTSH	Cognizant Tech Solutions Cp	11/2	0.76	0.75	Positive
CPWR	Compuware Corp	10/20	0.12	0.16	Negative
BCR	CR Bard	12/20	1.68	1.68	In-Line
BCR	CR Bard	10/25	1.68	1.70	Negative
CVS	CVS Caremark	11/3	0.89	0.90	Negative
DHR	Danaher Corporation	10/20	0.78	0.79	Negative
DHR	Danaher Corporation	12/14	0.78	0.79	Negative
DRI	Darden Restaurants	12/6	0.41	0.54	Negative
DF	Dean Foods	11/9	0.23	0.24	Negative
DLTR	Dollar Tree	11/17	1.54	1.54	Negative
D	Dominion Resource  Va	10/28	0.66	0.65	Positive
D	Dominion Resource  Va	11/8	0.66	0.65	Positive
ETN	Eaton Corp	10/24	1.11	1.09	Positive
EBAY	eBay	10/19	0.57	0.58	Negative
ECL	Ecolab	10/25	0.70	0.71	Negative
ECL	Ecolab	11/29	0.70	0.71	Negative
EW	Edwards Lifesciences	10/19	0.60	0.62	Negative
EA	Electronic Arts	10/27	0.90	0.93	Negative
EFX	Equifax	10/26	0.67	0.66	Positive
EQR	Equity Residential	10/26	0.65	0.66	Negative
EL	Estee Lauder Companies	11/3	1.93	1.95	Negative
FFIV	F5 Networks	10/25	1.00	1.00	In-Line
FDO	Family Dlr Stores	9/28	0.69	0.66	Positive
FDX	FedEx Corp	9/22	1.50	1.56	Negative
FMC	FMC Corporation	10/31	1.35	1.38	Negative
FTI	Fmc Technologies	10/25	0.49	0.53	Negative
GME	Gamestop	11/17	1.71	1.74	Negative
GCI	Gannett  Del	12/7	0.69	0.69	In-Line
HIG	Hartford Financial Services	11/3	0.83	0.88	Negative
HPQ	Hewlett Packard Co	11/21	0.85	1.11	Negative
HON	Honeywell International	10/21	1.03	1.08	Negative
ITW	Illinois Tool Wks	11/18	0.90	0.90	In-Line
ITW	Illinois Tool Wks	10/25	0.90	0.91	Negative
IR	Ingersoll Rand	10/20	0.67	0.70	Negative
INTU	Intuit	11/17	0.45	0.43	Positive
JBL	Jabil Circuit	9/27	0.66	0.61	Positive
JCP	JC Penney	11/14	1.10	1.14	Negative
JCI	Johnson Ctls	10/27	0.61	0.67	Negative
KLAC	KLA-Tencor	10/27	0.64	0.96	Negative
KSS	Kohl's Corp	11/10	1.99	1.94	Positive
LLL	L-3 Communication	10/27	2.41	2.49	Negative
LH	Laboratory Corp Of America	10/20	1.51	1.52	Negative
LXK	Lexmark International	10/25	1.20	1.13	Positive
LTD	Limited Brands	11/16	1.36	1.42	Negative
LOW	Lowe's Companies	11/14	0.22	0.23	Negative
LSI	LSI Corp	10/26	0.10	0.14	Negative
M	Macy's	11/9	1.55	1.66	Negative
MAR	Marriott International	10/5	0.48	0.49	Negative
MKC	McCormick	9/28	0.96	1.02	Negative
MHP	McGraw-Hill	10/20	0.57	0.59	Negative
MJN	Mead Johnson Nutrition	10/27	0.51	0.54	Negative
MWV	MeadWestvaco	10/26	0.40	0.41	Negative
MET	MetLife	12/5	1.21	1.28	Negative
MCHP	Microchip Technology	11/3	0.42	0.44	Negative
MOLX	Molex	10/25	0.40	0.43	Negative
MON	Monsanto	10/5	0.13	0.08	Positive
MON	Monsanto	12/7	0.18	0.13	Positive
MUR	Murphy Oil	11/2	1.53	1.25	Positive
NTAP	Netapp	11/16	0.58	0.63	Negative
NVLS	Novellus Systems	10/26	0.45	0.49	Negative
NVLS	Novellus Systems	12/5	0.45	0.46	Negative
NUE	Nucor	12/15	0.25	0.42	Negative
ORCL	Oracle	9/20	0.57	0.56	Positive
ORLY	O'Reilly Automotive	10/26	0.82	0.83	Negative
PKI	PerkinElmer	11/3	0.51	0.52	Negative
PCL	Plum Creek Timber	10/24	0.40	0.38	Positive
PX	Praxair	10/26	1.36	1.39	Negative
PCLN	Priceline.Com	11/7	4.95	5.13	Negative
PG	Procter & Gamble	10/27	1.08	1.16	Negative
PG	Procter & Gamble	11/3	1.08	1.09	Negative
QCOM	Qualcomm	11/2	0.89	0.85	Positive
PWR	Quanta Services	11/2	0.34	0.39	Negative
RHI	Robert Half International	10/25	0.31	0.29	Positive
ROP	Roper Industries	10/24	1.20	1.21	Negative
ROST	Ross Stores	10/6	1.56	1.57	Negative
ROST	Ross Stores	11/17	1.56	1.59	Negative
R	Ryder System	10/25	0.95	0.97	Negative
CRM	Salesforce.com	11/17	0.40	0.40	Negative
SHW	Sherwin Williams	10/25	0.77	0.81	Negative
SIAL	Sigma-Aldrich	10/25	0.89	0.92	Negative
SIAL	Sigma-Aldrich	11/9	0.89	0.90	Negative
SO	Southern	10/26	0.29	0.31	Negative
STJ	St. Jude Medical	10/19	0.84	0.86	Negative
SPLS	Staples	11/15	0.41	0.43	Negative
SYMC	Symantec	10/26	0.41	0.41	Negative
TGT	Target	11/16	1.48	1.47	Positive
TEL	Te Connectivity	12/6	0.70	0.70	In-Line
TEL	Te Connectivity	11/3	0.70	0.78	Negative
TER	Teradyne	10/26	0.12	0.14	Negative
TXN	Texas Instruments	10/24	0.47	0.52	Negative
TXN	Texas Instruments	12/8	0.38	0.48	Negative
TXT	Textron	10/19	0.33	0.36	Negative
TMO	Thermo Fisher Scientific	10/26	1.22	1.23	Negative
TIF	Tiffany And Company	11/29	1.53	1.63	Negative
VAR	Varian Medical System	10/27	0.75	0.89	Negative
WMT	Wal-Mart Stores	11/15	1.45	1.45	In-Line
WAT	Waters	10/25	1.52	1.56	Negative
WDC	Western Digital	10/19	(1.30)	1.05	Negative
GWW	WW Grainger	11/16	2.02	2.10	Negative
XRX	Xerox	10/25	0.34	0.32	Positive