Tim Heekin
Tim Heekin
accounting catalyst continued corporate flirting key markets move rally support technical
We're flirting with key technical support levels. Markets rally but then can't sustain. There's continued nervousness about accounting and corporate profits, but no catalyst to move us out of it.
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.
chip news sector seen select strength technology themes
Even with the Dell news, the two themes we've seen today, and lately, have been strength in select technology -- today, that was the chip sector -- and strength in industrials.
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.
guided opportunity rocking tech
They had an opportunity to get tech really rocking if they said something positive, but instead, they guided lower.
across feeling spread tech weakness
There's a panicky feeling that the telecom weakness could spread across tech in general,
causing company economic news purely technical
This is purely a technical rally. There is no economic news, no company or sector-specific news that's causing this,
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.
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.
eight energy group last leaders market pair performing sort technology weakness weeks worst
Citigroup was disappointing and financials are the worst performing group today, ... You pair that with weakness in technology and energy -- the two leaders for the market over the last eight weeks -- and you have sort of a ho-hum day.
remains whether
Whether this is sustainable remains to be seen.
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
best data hit loss pressure providing retailers selling taking yesterday
Retailers are still taking a hit off of Best Buy's loss yesterday and now today's data is providing some more selling pressure in the sector.
confused continue people today walked whether
I think people walked in confused today as to whether we are going to continue this uptrend through year-end or back off.