A barrage of earnings reports and two days of congressional testimony from Federal Reserve Chairman Alan Greenspan will keep investors busy in the coming week. But if corporate earnings and guidance come in mixed -- much as they did the past week -- the major indices could be in for another week of drifting. "Any good news is going to basically be put on the side next week ," said Peter Cardillo, chief market analyst at S.W. Bach & Co. "Our market is using every piece of negative news. Even the good news is becoming negative." Overall, the market "is representative of one thing: the summer doldrums," said Cardillo. He called the market's listlessness a "technical decline which needs to test the lower end of the trading range and successfully bounce" before moving higher. But it's partially been that lack of attention toward good earnings-related news -- and an intense focus on the poorer aspects of other quarterly reports -- that's been hurting the major indices lately. Dell ( DELL), for example, on Friday raised its second-quarter earnings guidance on Friday, which had followed an upbeat quarterly report from IBM ( IBM) on Thursday. While those two stocks rose on Friday, the Nasdaq closed Friday down 1.6% at 1,883.15, a two-month low. The Dow Jones Industrial Average was down 0.2% at 10,139.78, and the S&P 500 lost 0.5% to 1,101.4. Dell's and IBM's announcements contrasted with negative news earlier in the week from Nokia ( NOK), which lowered its third-quarter profit target, and from Intel ( INTC), which lowered its outlook on gross margins in 2004. Those announcements helped all the major indices extend their losing streaks for the week, with the Dow down 0.7% on its fourth losing week in a row, the S&P down 1% on its fifth week in a row, and the Nasdaq down 3.2% for the third week. All three are down on the year, too, with the Dow off 3%, the S&P down 0.9%, and the Nasdaq down 6%.