SPX Bulls Showing Resilience

After quite the bounce last night and some negative news one could think the bears would come roaring down and sell off the market for at least a day, but the bulls seem to remain strong recently.
Bank Miss, China Down
This morning we got the first of what will be many banks reporting their fourth quarter results.  Citi kicked it off with a miss on revenue, which seems to be the expected tone for the banks this earning season from the pundits.
Additionally, data out of China sparked worries over a global slowdown as their import/export numbers were lower than expected.
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