12:05pm (EST)

The bulls challenged resistance at the open that was prior support and following a slight pullback the market is challenging its session highs for the day.  Futures were showing a strong open this morning and the levels we are watching for have come into play but the bears are motivated so we need to watch lower support levels as well.

The Dow is up 128 points to 14,727 and has traded to a high of 14,736.  The bulls are trying to clear and hold 14,700 into the close and 14,800 would be even better.

The S&P 500 is higher by 17 points to 1,569 and has kissed 1,570.  A close above 1,560 would be bullish and 1,575 super bullish while a close below 1,550 would be bearish.

The Nasdaq is advancing 40 points to 3,257.  The index is at its highs and has cleared 3,250.  There are some notable Tech earnings this week that will sway a move back towards 3,300, or a drop below 3,200.

The Russell 200 is up a 12-pack to 91 while the S&P 500 Volatility Index (14.40, down 2.87) is back below 15.

Yahoo (YHOO, $23.90, down $0.08) will announce their numbers after the bell and International Business Machines (IBM, $210.93, up $1.67) will confess on Thursday.  If these two companies can beat the Street while upping guidance, Tech should hold up.  If not, we could see the start of a nasty pullback for the market.

Subscribers, check the Members Area for the updates and we will be back in the morning with a full report.