Marc Pado
Marc Pado
broken clear current earnings expect expected fed focus levels rate shift support supports
Those very short-term support levels were broken yesterday, but the supports under the current levels are substantial. Now that the Fed has made it clear that we will see one if not two more rate hikes, the uncertainty has been removed. We expect the focus to shift to first-quarter earnings results, and they are expected to be good.
attention good greenspan market news raised remove shifted time
Any time you remove uncertainty, it's good news for the market. Having raised the question, the market has shifted its attention to Greenspan from earnings.
attention continue december earnings employment market needs next plate report shift starting step
By the end of this week, the attention will shift to the December employment report and then on to earnings starting next week. By the end of the month, earnings and forward-looking projections will be what needs to step up to the plate if the market is to continue the rally.
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.
coming facing large market number realize tough
We are facing a large number of Katrina-related warnings, ... The market is just coming to realize that it is going to be a tough September.