In the face of geopolitical tension and oil up almost 4 for the day, the market held up extremely well. Today could've been a nasty day, but everything still performed well. This was a decent end to a lackluster week.
More Quotes from Barry Hyman:
For the market to make a convincing case that we've ended the decline, it's going to have to put together a few days in a row of advances or people are going to look upon up days as an isolated situation.Barry Hyman
The market gets extremely concerned on (long-term) interest rates when they get above 6 percent.
Barry Hyman
The market has some power today. Continued lower energy prices and the belief that the economy is rebounding off a poor fourth quarter are assumed to be behind the move today.
Barry Hyman
There's concern in the markets that higher oil prices may hurt the economy.
Barry Hyman
A worse-than-expected number tomorrow will discount what happened this week. If we get an inflationary number, the market will go down, but I think it all clears up by mid-June.
Barry Hyman
I think this week's performance has been very indicative of a bottom. The market made a lot of sense this week, since the Fed really helped to ensure the positive psychology that is needed to maintain consumer and investor confidence.
Barry Hyman
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