Slight Distribution Day

The action in the market today was somewhat bearish. Bond yields spiked higher, and that provided a tough environment for stocks. Many recent leaders were down significantly on the day.

Volume rose on the NYSE, making for a slight distribution day for the SPX. The COMP was only down -0.1%, so that doesn't qualify.

After the close, the earnings parade continues:

• SIRF reported in-line quarter, but that doesn't look to be enough to keep the stock from selling off.
• WIRE reported blowout EPS and the stock is trading roughly 10% higher in after-hours
• AMZN reported in-line results, and the stock looks to be pretty flat
• ITRI beat the numbers, and the stock should hit new highs
• GLW beat the numbers by 4 cents, but offered tempered guidance

Tomorrow should be another fun day, so rest up--

long GLW