Moving forward, the upcoming week will likely be a very busy one on WallStreet. Corporate profits should be the primary focus of investors. Among the companies scheduled to report are: Tyco, IBM, Intel, Juniper Networks, J.P. Morgan, Checkpoint Software, Yahoo and Washington Mutual. What these companies say about the future will likely decide the market's near-term direction. In addition to all the earnings reports, there are a number of economic reports on tap. They include: retail sales, CPI, Fed's Beige Book and housing starts. We feel the week ahead will be a very critical one for the markets. We continue to feel it's best to remain on guard, as the markets could be vulnerable to some further weakness in the days/weeks ahead. If companies do not start suggesting things are getting better and raising numbers, then it will be difficult to justify most of the current price to earnings ratios. With that said, we will pay extra close attention to guidance moving forward.