Tax reform remains in focus as the House is scheduled to vote on their version today. The tax legislation is expected to pass. Meanwhile Sen. Ron Johnson (R-WI) became the first Republican to openly oppose his party’s tax legislation which will make it more difficult for tax legislation to make it through the Senate. Corporate earnings continue to beat expectations with CSCO the latest yesterday also projecting a rosy outlook in cloud computing growth. Wal-Mart (WMT) reports this morning. Also reporting today are VIAB, AMAT, BBY, and GPS. The economic calendar includes Claims and Philly Fed @ 8:30am EST and Industrial Production @ 9:15am EST. It was nice to see the pickup in volatility continue yesterday (from a day-trader perspective). There’s still plenty of elbow room to the 2594.50 all-time high, but expect volatility to shrink as the bulls climb higher. No Size bias this morning as overnight Size volume was mixed.