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Futures vs FV: -2.8 SP, -10.5 NASD. INTC, YHOO earnings weighing on tech, GM & EK on the large cap industrials. Good results from MO, JPM, PFE, UTX, AMR not offering much offset. Greenspan testifies to Financial services committee @ 10ET; expect a rah-rah session for economy so Greenspan can continue agenda of hiking rates up to 4% or more. Recent strength going to get tested today as tech pillar INTC trading $1.65 off Tues close. Will have to see where finds support & ability of the many recent leaders to hold near term support to preserve move & keep trend alive. Support: SP500 (1225, 1220-19, 1213-12); NASD (2163, 2151, 2135 is 10 day EMA).
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