Mkts need a trigger bigger than earnings

I don’t think you should set much hope on earnings expectations. If earnings are very or surprisingly good, they can keep you afloat in a trading range. I doubt the current quarters earnings will spark off any major rally in the market. Firstly, the numbers will be just about in line with expectations, one should not expect major surprises. Even if it is 15-16% higher this quarter, it will spark of any major value because the markets are clearly obsessed with what lies ahead. The macro data has been so bad that the market is convinced that it will trickle down to an earnings deceleration in Q2 or Q3.

Crude is just not cooling down enough for the market to heave a sigh of relief, so one should not expect too much from that quarter either. So, I don’t know what will keep the market going much higher. There could be a bit of a range for the moment till the earnings get digested, but it will require a big trigger for the market to rally more than 5-6% from here.