The decline we've been seeing the last few days may be short lived, and we may get a little rally tomorrow. But beyond that, near-term we've seen the highs. The Nasdaq, which led the rally last year, is continuing to lag the broader market, which is a negative. |
The dollar news has already been in people's minds for some time, so it's not carrying much sway. |
The dollar's strength and the bond market's weakness right now is changing the way people are seeing things, ... It's telling us that interest rates are likely to rise and that commodity prices are likely to come down. |
The economic numbers were on balance disappointing. You also have the dollar a lot weaker today because of the continued uncertainty with the international situation. |
The fact that people are selling stocks like eBay, Caterpillar, IBM and GE very quickly of late tells you that the upside [for the broader market] right now is limited, |
The fact that people are selling stocks like eBay, Caterpillar, IBM and GE very quickly of late tells you that the upside [for the broader market] right now is limited. |
The key is what happens tomorrow. How will people interpret what the Fed says? How will the dollar do? The dollar has been hanging in by default, but if it really starts to roll over, that would hurt stock prices. |
The market has acted well and longer-term, the trend remains positive. But right now there's some exhaustion, |
The market is defensive. It indicates to us that we'll see a slowing of profit growth going forward. |
The market is negative short-term. We are locked in a trading range until the next Fed meeting. |
The market is still under a cloud right now. There's no real catalyst to take it higher. |
The market is strong, but we're a bit overbought and some complacency has set in, |
The market lifted on an anticipated resolution of the port issue. But it's a very temporary thing; it's not going to lift us out of any of the nervousness that's been pulling markets lower. It's a one-day love affair. |
The market wants a summer rally, but until oil prices come down, and there is some progress with all the geopolitical issues, that's going to be tough. |
The opinion also on Wall Street is that more rate hikes are likely to follow this. And if that occurs, there's still uncertainty in the overall market and consequently it will be tough to get a big rally off the low, ... The market has certainly become tired. The psychology is that of a bear market. We get strong openings only to close either at the low of the day or near the low of the day. Witness what we saw on Friday. So on balance, yes, that psychology has changed. |