This, in my mind, increases the chances of another rate hike in March. They have not declared the war on inflation to be over. Inflation is the key indicator to watch right now.

The consensus is looking for 13 percent earnings growth in Q4, which is a pretty high hurdle. Earnings have been coming in better than expected for a long time. This time, if earnings don't come in better than expected, the market may take a hit.

There are a lot of bargains out there in large-cap growth stocks.

There are a lot of good things going on for equities ... corporations are full of cash right now.

It looks like yet again we're going to get a quarter with higher-than-expected earnings. Earnings guidance has been positive, and that always helps.

It just so happened that we had a number of big-name, negative reports come in to start things off, and it just went from there. Turns out that wasn't indicative of where things are. Earnings are very strong.