Markets Lull Ahead of Earnings but Tech Continues to Sizzle

An overall negative market day in North America was propped by continued strength in Technology stocks. The Dow Jones and S&P were both lower but the Nasdaq managed to eek out a quarter percent gain. Volume levels were lower across the board as earnings from major companies are seemingly around the corner.

Technology was at the forefront all day as many new all time highs were not only reached but breached once again. Google (GOOG) most notably passed the $600 mark closing at $609.62.
Apple (AAPL) and Research In Motion (RIMM) continued to show strength with gains of 4% and 3.7% respectively. Previously beaten down names like Akamai (AKAM), up 8.4%, and Garmin (GRMN), up 4.5%, made rebounding strides today.

The winter season has so far been mild, which has put a dent in oil prices, dragging down Exxon Mobil (XOM) and Co. Gas Prices however, have sustained at high levels and that re-ignites investor fears that consumers will take their holiday spending down a notch. It'll be a battle between the bulls and the bears over the next few weeks as the markets seeks a true direction throughout the winter months. So far the Bulls are proving they have the edge, especially in Technology.

Disclosure: Author is long AAPL, GOOG, AKAM