Marc Pado
Marc Pado
left market oil plenty plus production
Net-net, there's probably plenty of oil in the market. OPEC left production quotas, so that's a plus for the market this morning.
coming concerns continued energy fallen further increases market oil prices push quickly rates several support taken trading war winning
In the war of rates vs. oil, one would have to say that oil is winning out. Concerns of further rate increases are coming to fruition, yet the market has continued to push higher. Energy prices have fallen quickly and have taken out several trading support levels.
airlines despite drop gaining gasoline higher lower meet oil prices responding sales september statement
Airlines and industrials are gaining from lower oil. Discounters are responding not only to a drop in oil prices but also to Wal-Mart's statement that it will meet September sales expectations despite higher gasoline prices.
against brushing buying economic emotional ignoring market markets oil recent run sanctions temporary whatever
The market had been ignoring the recent run in crude, brushing it off as temporary emotional buying as a hedge against economic sanctions against Iran. Whatever the reason, oil is back up against all-time highs, and that was making the markets nervous.
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.
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.
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.
coming date flows money tax
With the tax date deadline, you're getting money flows coming into the market.