Tim Heekin
Tim Heekin
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.
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.
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.
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.
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.
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.
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,
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.
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,
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.