You would hope that the strong earnings would support the market and give it the ability to react positively. But I think the case for that has been diminished lately.

It's a transition market. I think (last week) indicated the willingness to look forward at the upside of the story. There isn't a lone voice expressing positive attitudes toward technology but this week indicated the ability of the market to look forward.

The market has created this wealth effect because there have been a lot of gains over the past two or three years, ... That has provided the ability for consumers to increase spending on regular goods and luxury goods.

The ability of Intel to come out and say a 'no worse than expected' story pleased the market. There are many other corporations in technology that are in that position so that if the slowdown is just a slowdown, there's good upside in many of those issues.