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. |