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75 S&P companies have reported so far and 43%(32)have beaten expectations and the ones that have missed have been hit with average 3.9% drops vs. the historic 2.4%, so not much tolerance for failing to hit those expectations while the ones that beat have only gone up 1.6% - indicating that good news is mainly priced into the current prices. The Banksters have led us so far - now we have to see if Tech, Industrials, Consumer Goods, Energy and Services can hold up.