What we need is to hear from companies that take the pulse of the consumer. Tech will be one of those groups. Retailers will be another. |
While the market was still moving higher, the internals leave much to be desired. The action is not negative, just not impressive, which leads me to believe that we are in an up-trending trading range. |
While we would like to see a follow-through day, the positive implications from yesterday's rally should help reinforce a support under the market at Tuesday's intraday lows. Weakness in same-store retail sales and continued strength in crude will represent the first obstacles for the bulls today. |
Window dressing should focus on the groups that have done well this year. |
Window dressing should focus on the groups that have done well this year. Energy, technology, financials, and industrials have provided leadership. Even those groups that have underperformed for the year have picked up quite a bit in the last quarter. |
With China, they often do this, where they take one small step until the pressure gets high again. It's unlikely that China is really going to move aggressively to slow their economy. It would take aggressive moves in order to make an impact on China's growth at this point. |
With the tax date deadline, you're getting money flows coming into the market. |
Yesterday was perhaps as technically disappointing as last Friday. |
Yields, especially on the long end, have been dogging the market in recent weeks. And retail sales down more than expected shows enough of a slowing to question whether or not the Fed needs to continue to act. |