We've got a lot of economic news between now and the next Fed meeting in May. The path of least resistance is higher, but there's a bumpy road.
More Quotes from Art Hogan:
Fifty-two percent of the households in America are invested in the U.S. stock market and they want to invest in the things that had 70 percent growth last year, ... As long as the money keeps flowing into equity mutual funds and they are targeted toward Nasdaq stocks, we are going to see this go on for a while.Art Hogan
The concern is about how much the economy picks up and how quickly that translates into earnings growth for corporate America.
Art Hogan
This may be a very volatile trading session. The market wants good numbers, but an exceedingly good report may lead to further rates increases, and that's not good for stocks. On the other hand, a bad report on top of disappointing earnings, could spark another sell-off.
Art Hogan
I think the Fed's going to lower by 25 basis points and I think the trend is going to show stabilization and a pick-up in growth, ... The current data is not going to look terrific but there will be signs of stabilization.
Art Hogan
There's been plenty of reasons to sell stocks today.
Art Hogan
That gives us a lot of trading time, unfortunately.
Art Hogan
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