US stocks indexes once again closed at record highs yesterday, a complete erasure of Tuesday’s selloff. The new US Tax law is starting to show some dividends. Apple announced plans to repatriate a portion of its overseas cash. The move creates a one-time US tax bill of $38B and an announcement to pump $350B into the US economy over 5 years through updating their company sites, investing in a new campus powered by green energy, hiring 20,000 US employees, initiating a stock buyback program and increasing dividend. Market focus remains on corporate earnings. AXP, BBT, BK, KEY, and MS are on deck today. The economic calendar includes Housing Starts, Philly Fed, and Claims @ 8:30am EST. and Oil @ 11:00am EST. After yesterday’s big move, volatility may take a rest today. However, as written on Tuesday, if the 2810s are cleared, the bulls may run. Size bias is short into the 8:30am numbers on relatively lighter overnight volume.