S&P 500 opens strong and now down 11. Stalls at the Fibonacci Line again

Where is the market going ?  Looks like talk of the double dip recession is fading. For the past 2 weeks, Wall Street has been focusing on earnings announcements and they are not that bad as first thought by the gurus. Plus Europe doesn't have as many banks failing after the stress test last Friday. Where is the market going ? 

Well I am sticking to my thesis of volatility and the trading range I mentioned early in the month. I think the market has a greater chance of correcting than starting a new bull.  What does the market do after earnings season ? .... focus on other news (economic stats, US state debt problems, credit crisis with the PIGS, Korea etc...)   Time will tell !!!  Be careful out there !!