There are some slight movements in technology stocks with sporadic gains, but nothing to write home about. |
There aren't any (economic) numbers to say, 'Hey, the economy is slowing,' or 'Hey the economy is strengthening,' |
There is no question that the State of the Union message last night was very strong and very positive. Obviously the economy continues to do very well. Inflation is low and interest rates are still very low. |
There is so much negative news out there right now. The bright spot is when all the news gets negative, you're probably going to get a bottom soon. |
There was some light profit-taking ahead of the (Easter and Passover) holidays. Volume is not that heavy and people are just waiting on the sidelines. |
There's a feeling out there that a lot of the negative news has already been discounted in the market, |
There's a feeling out there that a lot of the negative news has already been discounted in the market. |
There's a little volatility on the downside ahead of the long weekend, so we're seeing money flowing out of the Dow and selectively going into the tech arena. Industrial stocks are not doing so well. |
There's been a technical erosion and it continues to feed off of itself, |
There's been a technical erosion and it continues to feed off of itself. The confidence number brought in some buying and cut some earlier losses, but the markets are basically still lower for all the same reasons they've been lower of late -- the poor earnings outlook, the prospect of war in Iraq, corporate mistrust. |
There's no question it's earnings-driven. The rally continues to move ahead but on a rotation basis. There are two things driving the market - earnings and economic data. Today's market seems more based on earnings than economic data. |
There's really no other explanation for it, |
There's skepticism about earnings -- companies may report good earnings but they might have some negative comments to make about future revenue growth. |
There's still very low volume, which leaves the bears in control, and the market remains sensitive to the war factor. |
These stocks are the forgotten group -- they continue to stay dormant and move lower, but they actually become a good buy, |