We've had a few good days and the only economic number we had today was the jobless claims, ... People are starting to get nervous -- if the jobless claims look like that, what will the unemployment rate look like, and that's the driver.
More Quotes from Art Hogan:
The markets are hanging on nicely, considering the massive gains yesterday, ... Clearly, if the market can hold onto its gains from yesterday, and through the weak durable goods report today, the path of least resistance is upside.Art Hogan
We are starting to see (economic) stabilization and, I think the fact that the Fed didn't make a move speaks to that.
Art Hogan
We're seeing better earnings news in corporate America. That's what the market is celebrating, ... We made major collateral damage to stocks in the last six weeks and over a larger 2-12-year period. What's happening now is that the market is bottoming out and is building a higher support base in the process.
Art Hogan
I'm thinking the Fed will leave the rates unchanged, ... We've ramped up pretty higher into this meeting and my concern is the psychological letdown if the rhetoric remains strong.
Art Hogan
We had a terrific week last week, ... Investor sentiment has shifted to people not wanting to miss out on any strength. There's a lot of cash on the sidelines.
Art Hogan
We've had a lot of bad news today -- the economic data, Cigna and the insurance sector is doing poorly, a bunch of companies missing estimates or warning -- but this is a market that really doesn't want to sell off,
Art Hogan
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