To say Wall Street was disappointed with the jobs report would be an understatement. With the holiday weekend. Out of the gates the major indices plummeted to their session lows. While they have since stabilized, the indices are still painted deep in the red.

Two items investors can look forward to that may stick save the rally. One is a speech tonight by Ben Bernanke. His thoughts on the labor markets bore out so it may push them to act on QE3 on a quicker timetable.

The other is earnings season is fast approaching. Now depending on results, it could be a boon to the bulls or give turn the the market over to the bears. Alcoa is set to release on Tuesday so all eyes will there to see if the recovery is still happening or if a setback is looming.

The Dow is currently down 141, the Nasdaq 32 and the S&P 17. [Read more...]