The market may be getting back to important questions like, Are corporate earnings going up?
Also, corporate earnings are nearly 40 percent better than they were in mid-1987.
Wall Street cannot even agree on what corporate earnings are.
At the same time, there is some concern about corporate earnings.
The story of the week was corporate earnings, for good or ill.
"We still have to deal with corporate earnings later this month, and they could be negative," he said.
Or it could reduce prices because the market decided corporate earnings would fall.
Corporate earnings for the third quarter were up 22.7 percent, compared with a year earlier.
The least important part of the equation, they say, will be corporate earnings.
If so, that would put a big drag on the economy and future corporate earnings.