Marc Pado
Marc Pado
averages bulls carry claus clearly expect highs next rally santa year
The Santa Claus rally is clearly underway. I expect to see the bulls carry the averages to new 4 1/2 year highs right into next Friday's close.
bulls continued crude help market obstacles positive rally reinforce represent retail sales strength support weakness
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.
basic break bull economic energy likely market materials needs numbers point profit rate strong threaten weak
From now on, strong economic numbers threaten another rate hike. Weak numbers point to profit disappointments. What the bull market needs is a catalyst, which would likely need to be a break in energy and basic materials prices.
bullish buying faces january looks market negative technical
It looks like some seasonal New Year's buying will give the market a bullish start, but this January faces many negative technical obstacles.
behind bullish data earnings economic federal higher hour interest iran market opinion plenty positive rally rates releases rising strong sway threat
It will take some strong earnings and bullish forecasts, as well as positive economic data, to keep the rally going. There are plenty of economic data and earnings releases to sway market opinion from hour to hour and day to day. Behind it all, there is the rising threat of geopolitical tensions with Iran and higher interest rates out of the Federal Reserve.
bulls work
The bulls have some work to do today.
bulls continue earnings opportunity roll
The bulls had a real opportunity. Earnings continue to roll in, and for the most part they are in-line or better than expected.
added additional basis faded fed gave investors juice june market needed overhead points potential rally serious time yesterday
Every time investors think the Fed is going to be one-and-done, they rally the market 100 points. Yesterday was no exception. The potential for an additional 25 basis points in June faded from over 50% to about 28%. That gave the market the added juice it needed to penetrate serious overhead supply.
continue data excuse fed figures investors past provide raising rates relieved revised slightly though
Even though the figures were revised slightly lower, investors were relieved because the data won't provide the Fed with an excuse to continue raising rates past January.
although earnings focal main starting
Earnings will be the main focal point, although the rumbling is already starting about the upcoming FOMC meeting.
last perhaps yesterday
Yesterday was perhaps as technically disappointing as last Friday.
anticipate clear fed funds soon stop trying
The 10-year has been trying to anticipate the fed funds rate. As soon as (Fed policy-makers) made it clear that they weren't going to stop at 4.75 percent, there was a big jump.
growth positive rather
Most everyone has rather positive expectations for double-digit (corporate earnings) growth for the first quarter. That is already 'baked in the cake'.
ground help hold looking mergers
Mergers are looking to help us hold our ground today.