Timothy Ghriskey
Timothy Ghriskey
beyond bond both initial issues morning number rally range remain stock stuck until
The CPI number this morning sparked a rally in both stock and bond markets. But beyond the initial reaction, I think we're going to remain stuck in this range until other issues get resolved.
beyond bond both initial issues morning number rally range remain stock stuck until
The CPI number this morning sparked a rally in both stock and bond markets, ... But beyond the initial reaction, I think we're going to remain stuck in this range until other issues get resolved.
bear conditions expect levels lift major market rally technical today
I think this is a technical bear market rally that we could get today (Wednesday) on oversold conditions after we went through some technical levels on the major indexes yesterday. So we can expect the market to lift up some,
primarily rally rather room seems tech
It seems to us that this rally is primarily short-covering, rather than something fundamental. The sense is that tech doesn't have much room to go lower.
feed market rally reluctant shows
It was a very reluctant rally but it shows how much the market can feed on itself.
barrel crude drag falls light oil parts price rally sets sweet various
Light sweet crude is over $45 a barrel now, and that's a big drag on various parts of the economy. I think at some point, the price of oil falls and that sets off a rally in the market.
economic either rally reports rest strengthen today undermine volume week
I like the rally today and the volume is good, but we still have a lot of economic reports to get through the rest of the week that could either undermine it or strengthen it.
earlier rally ran saw yesterday
The little bear-market rally we saw earlier and yesterday just ran out of buyers.
bit earnings economy higher improving justify lifted markets mood positive proof stock summer translated
We're into a bit of the summer doldrums. There have been a lot of positive earnings surprises, but the anticipation of that has lifted markets for months, with little proof that the economy is improving enough to justify those earnings. So the mood is more upbeat, but that hasn't translated to higher stock prices.
seeing
We're seeing a pullback really just from yesterday.
high hit remember seeing selling
We're seeing a little selling today, but I think it's important to remember that we just hit an 18-month high on the Dow, and so we're going to see a little pullback short-term.
early focused holiday january reports season
What we'll be focused on in early January will be more reports on how the holiday season went for retailers.
building calendars certainly clear coming fact favor highly historic market related seen since somewhat stock styles technology valued volatile wrong
We've seen a very volatile stock market since February. Different styles and sectors, like technology or financials, coming in and out of favor with no clear direction. There's nothing really wrong with techs. They are certainly somewhat highly valued by any historic measure, but probably not as highly valued as they were in February. We think, actually, come the fall, we could see a big tech rally, and that would probably be related to the fact that the IPO calendars are really building at the big underwriting firms, the big broker dealers.
events issue market oil seems today
Overall, the issue for the market right now is oil. Today it seems to be about the events in Nigeria, but with oil it's been just one issue after another lately.