Tim Heekin
Tim Heekin
few leadership lose next past selling software support tech tend three top
Semiconductors and software have been the leadership for the past few months, so when there's tech selling now, they tend to lose support first. But we're at the top of a range, technically, so we're going to see some selling for the next two or three sessions.
bottom build economic few market monday next numbers
We have no economic numbers Monday and my sense is that the market is going to keep consolidating for the next few sessions, before we make a bottom and then build from there
continue continuing fall few next oil prices pull stocks
I think even if oil prices continue to fall for the next few days, we're probably going to see stocks continuing to pull back.
continue few four gets hands months next people since sitting weeks
In the first four months of the year, people made a lot of moves, but since then, I think people have been sitting on their hands a bit. I think that will continue in the next week, but a few weeks from now, it gets more interesting.
bonds coming fixed funds income money pension seeing shifting weeks
What started this two weeks ago was the big pension funds and other institutions coming in, seeing that bonds were getting over-valued and shifting money out of fixed income and into equities.
based betting earnings fourth guidance half numbers people quarters rally robust saying second seeing third year
Earnings have been fine, but they just haven't been as robust as people were hoping. The guidance for the third and fourth quarters hasn't been that strong, and part of the rally was based on people betting that the second half of the year would be good, so with the numbers not saying that, you're seeing some selling.
airlines drag steel
FedEx is a big drag today, Merck is down, steel is down, airlines are down, it's all weighing on the transports,
break good hold key moving technical tone towards
There's a good tone to the market. We're moving towards some key technical levels, particularly with the S&P 500. I think that if we can hold and then break through them, we could go higher.
bonds came finally funds high hold profits recent taking test
Bonds finally showed a little reversal. We put in a high on the long-terms and then dipped off of that. I think the big bond funds came in and started taking profits after the recent run. The real test will be if we can hold these levels.
badly bond flew looking money people performed performer sector tech worst
The tech sector as a whole has performed so badly this year; the Nasdaq has been the worst performer year-to-date. I think a lot of money flew into the 10-year bond during the conventions, during the Olympics, and now people are looking to put their money into the beaten-down sectors, like tech.
actions direction earnings market military picture true until
There's going to be no true market direction until the earnings picture and military actions become clearer.
economic friday hugely news next rest week
There's no economic news out Friday or Monday, and the economic news the rest of next week is not hugely influential,
bounce correct driving seeing sold
There's nothing fundamental driving these gains. The Nasdaq had sold off over 10 percent, the Dow and the S&P had started to correct as well, so you're seeing a bounce off of that.
coming drive market people retail technology trying
I think people are trying to drive the market higher. They're coming in on what have been some of the better groups, that being retail and technology still.