We've got some decent data points to work through over the rest of the week. The new home sales, initial jobless claims are particularly important and Friday we have Michigan sentiment. But it's been the case of late that if the news is good, nothing happens and if the news is bad, we sell, so we'll have to see how these reports play out.
More Quotes from Bryan Piskorowski:
It's got a bit of a Yankee doodle dandy feel to it today. However, we might have had a rise yesterday (Monday), too, had the plane crash not happened.Bryan Piskorowski
Clearly trading here in the month of May feels more like August. But bottom line here, yes, we are, we're pinned in by interest rate uncertainty we're pinned in by the Fed meeting coming up at the end of June. Obviously with those two things hanging over our head, the bottom line is the market really hasn't been taking a position on either side of the coin. In the last two weeks, we've basically been trading -- I can't believe this -- in the 10 percent range on the Nasdaq. But that's what it's been.
Bryan Piskorowski
There is just no good news out there right now, and people are not willing to get involved in the market going into a weekend. You've got a buyers' strike going on.
Bryan Piskorowski
We're pinned in by interest-rate uncertainty, we're pinned in by the Fed meeting coming up at the end of June. With those two things hanging over our head, the bottom line is the market really hasn't been taking a position on either side of the coin.
Bryan Piskorowski
The big picture is that we have a market that did very well for the first part of the month, with the techs in particular recovering from summer declines, ... But now we've trailed off from that a bit, and you're seeing some window dressing into the quarter end.
Bryan Piskorowski
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Based on Topics: Media & News Quotes, Sales QuotesMy relationship to power and authority is that I'm all for it. People need somebody to watch over them. Ninety-five percent of the people in the world need to be told what to do and how to behave.
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