The consumer has been fuel for this market for a long time now and with energy prices and all the other question marks out there now, investors will be watching earnings and guidance very closely.
The disappointment in Dell's results came from its guidance and that is obviously going to really impact the technology sector tomorrow and you could see a pullback.
There is so much uncertainty with energy prices, and that is why we are caught in a tight trading range here. Over the next few months you will see how Katrina will benefit or hurt the market, and there is a wait-and-see attitude among investors.
Until we see earnings impacted by oil, I don't think the market is going to be responsive.
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