We're pinned in by interest-rate uncertainty, we're pinned in by the Fed meeting coming up at the end of June. With those two things hanging over our head, the bottom line is the market really hasn't been taking a position on either side of the coin. |
We're seeing some weakness, which is not surprising. We've had pretty sizable gains in the last two days, so you're seeing a little rotating out of sectors and some profit taking, ... However, I wouldn't be surprised if we see a little bounce after we get through the morning. |
We're seeing some weakness, which is not surprising. We've had pretty sizable gains in the last two days, so you're seeing a little rotating out of sectors and some profit taking. However, I wouldn't be surprised if we see a little bounce after we get through the morning. |
We're testing the bulls' resolve with all these economic data each day, ... Chicago PMI, due out tomorrow, is a May number, which is important. |
We're testing the bulls' resolve with all these economic data each day. Chicago PMI, due out tomorrow, is a May number, which is important. |
We're wrapping up a year where we saw the Christmas rally happen in the autumn time frame. There's not much gunpowder left in December, so it's a month of digestion. |
We've been arguing that rallies are suspect until proven otherwise, |
We've done a lot of discounting already about the fact that earnings are not going to be good here. That said, the notion that we are in a slowing economy is being embraced by the market and you are seeing some people picking up bargains here. |
We've gone from feast to famine in this market. We began the year on a defensive tone (and moved to) a reversion back to tech and telecom, |
We've gone from feast to famine in this market. We began the year on a defensive tone (and moved to) a reversion back to tech and telecom. |
We've got 150 basis points under our belts and nothing is done yet in terms of seeing a potential lift in the economic sails. They're (the Fed) going to be forced to address the fact we're seeing rising unemployment. |
We've got some decent data points to work through over the rest of the week. The new home sales, initial jobless claims are particularly important and Friday we have Michigan sentiment. But it's been the case of late that if the news is good, nothing happens and if the news is bad, we sell, so we'll have to see how these reports play out. |
We've had pretty sizable gains in the last two days, so you're seeing a little rotating out of sectors and some profit taking, ... Last week we had a one-hit wonder. This week we're trying to see if we can do a little better. |
We've had pretty sizable gains in the last two days, so you're seeing a little rotating out of sectors and some profit taking. Last week we had a one-hit wonder. This week we're trying to see if we can do a little better. |
We've had some rainbows, but the themes of low visibility and investor uncertainty have run loud and clear here, ... But you get to the point where selling has run its course and late-day flurries have shown that this process is under way. |