Video

Squawkbox market analysis with Mike Tarsala from Thomson Financial Transcript: I'm Mike Tarsala with Thomson Squawk Box, and welcome to the Squawk Box Market Minute. The Nasdaq 100 should provide leadership heading into this week, with a breakout above the 2200 level, following a very strong report from Microsoft that should keep the tech complex going strong. And a surprise Countrywide Q4 profit will provide added fuel for S&P bulls. Tech is coming alive on this Microsoft news. Dell and H-P shares are doing well. And Micron (MU) could be the stealth play here. Long ago, traders had anticipated it would be the big beneficiary, as companies needed to boost memory on computers due to the Vista operating system. Slow adoption of Vista killed that fundamental trade, but last night's report should revive it. Expect Micron to make a move above the psychologically important $10 level. Longer term, the technical picture is still mixed, as consolidation patterns continue. We see any moves up today for financials, insurance and computer chips as short-lived, as all of those sectors are showing more bearish readings from Trend Ready levels. But homebuilders could possibly uptick following the CFC news; the XHB is at a Trend Intensity reading of 12, which we consider Trend Ready. For up-to-the-minute market forecasts, visit ThomsonSquawkBox.com