My apologies for the dearth of morning missives this week. As I mentioned, I have been technology- and communications-challenged of late. However, the good news is that my tech travails appear to be coming to an end as I have a shiny new computer, a landline phone, AND upgraded internet. It will suffice to say that I am now a happy camper.

Here’s a “quick take” on what’s happening in the markets this morning – for those that aren’t on the golf course or at the beach with the kids, that is!

Hawkish comments from Super Mario, oil, earnings from the likes of Visa, GE, and Mr. Softie, and new developments in the Russia probe are capturing the attention of traders on this summer Friday. It is worth noting that both interest rates and the greenback are lower this morning. The dollar traded near two-year lows against the euro after comments from ECB President Mario Draghi were perceived as being more hawkish than anticipated.

Meanwhile, oil prices are lower on new supply concerns in front of next week’s meeting of both OPEC and non-OPEC members.

Next, generally speaking, earnings continue to be supportive for the market as the major indices continue to flirt with new all-time highs. The question, of course, is if earnings will be strong enough to (a) support higher prices from here (the S&P is up double digits already this year) and (b) keep valuation concerns at bay. (More on these topics next week.)

From an indicator standpoint, we have seen some improvement this week, but we must note that the levels of many models/indicators are not as robust as one might expect with the market at such lofty levels.