While investors seemed to take the news in stride, to a certain extent, you have traders in fear of the tape, ... Rumors and innuendo are still sparking knee-jerk reactions and that's reflective of how many itchy trigger fingers are out there.
More Quotes from Bryan Piskorowski:
We are in a bit of a news vacuum as we wait for the deluge of corporate earnings reports.Bryan Piskorowski
We're seeing some weakness, which is not surprising. We've had pretty sizable gains in the last two days, so you're seeing a little rotating out of sectors and some profit taking, ... However, I wouldn't be surprised if we see a little bounce after we get through the morning.
Bryan Piskorowski
But the big picture is that there's no catalyst for the market. This is seasonally the weakest month of the year. The economy is nothing to write home about. The market is building against this tide every day.
Bryan Piskorowski
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.
Bryan Piskorowski
The fact that bonds are falling has the markets a little worried. The past couple times that oil spiked, bonds rose higher and the equity investors took solace in that. Now you've got to wonder if bonds are feeling the effects of inflation as well.
Bryan Piskorowski
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Based on Topics: Fear Quotes, Media & News QuotesBased on Keywords: itchy, sparking
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