Welcome to Closing Bell, I'm Mike Santoli in for Scott Wopner.

This make-or-break hour begins with the key indexes caught in earnings season cross-currents

while money continues to flow into small caps and bank stocks from traders willing to bet the

revival of first-half laggards can persist a while longer. Let's go to check on the

score card with 60 minutes to go in regulation the S&P 500 holding on to Monday's 1% gain.

It had a modest further rally earlier today.

It's not flattened out.

As earnings winners, such as GE Aerospace and Sherwin Williams helped to offset sharp drops in the likes of GM and UPS

GM which had really rallied into the number and had good ones but down 6% on the day the NASDAQ. Flattish with some

pressure on semis after that group's strong bounce to start the week and the

small cap Russell 2000 once again demanding attention.

Now, 1.4% second day in a row

where an indifferent open drew in some buyers

and they started to ramp that index.

Regional banks continue to track those smaller stocks, the KRE EDF, up another 2% today ahead

by some 18% this month alone within the Russell 2000.

It is also financials that are the strong area that takes us to our talk of the tape Will earning season serve as a support or a stumbling block to a fully valued market working to digest a strong year-to-date rally.

Here to kick that around is Dan Greenhouse, Solis Alternative Asset Asset Management Chief

Strategist.

Dan, good to see you.

Thank you, sir.

So there's really a lot of, I guess, back and forth within this market right now which actually seems kind of placid the S&P you know 2% off its high no big deal

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