The next three percent move for the SP could be up, and that would take us to important resistance levels. The question is what is the bias beyond that, what is the next five percent for the market That's not clear.
More Quotes from Barry Hyman:
Higher interest rates are an impediment to companies where cost is important and that's Old Economy stocks, ... What we are seeing is a defensive move into technology stocks.Barry Hyman
Although there had been some worry that the usual year-end came early this year, I think the market is going to adhere to tradition, ... and we'll probably see the market continue to move up through the end of the week.
Barry Hyman
The intermediate background look in terms of interest rates peaking and the economy slowing to a more sustainable pace without any undue harm is slowly going to play itself out, ... I would be very shocked if the GDP came in anywhere higher than estimates because Wall Street is already expressing its confidence that the economy is slowing down.
Barry Hyman
The market has two overhangs. It has the interest rate concern and it has the concern of whether a soft landing is achievable. The interest rate concern is over but the soft landing is another question. We don't know if the economy is slowing enough or slowing too fast and that concern, as it relates to earnings, is weighing on the market a little.
Barry Hyman
The situation is very tenuous on the equipment side and any slowdown in demand in the equipment side of the equation, when you are priced to perfection, means these companies are still very expensive,
Barry Hyman
Growth stocks on the large cap front with perceived consistent earnings can be looked at as better values.
Barry Hyman
Readers Who Like This Quotation Also Like:
I seem to have no problem revealing my crush on the man who murdered Lincoln.Sarah Vowell
We have no more fundamental obligation in government than to ensure the safety of our citizens.
Robert. L. Ehrlich
Today a minimum wage earner has to work a day and a half just to pay for a full tank of gas. That is simply shameful.
Bill Pascrell