Like any indicator, whether it's the Super Bowl or anything else, it's sometimes right and sometimes wrong. It's just not very rational to conclude that if January is a bad month, the market will have a bad year.
More Quotes from Hugh Johnson:
These are the really important numbers because they give us a first look at January, and they include leading indicators.Hugh Johnson
The gains in those sectors is very good news, ... Investors are buying into riskier areas and it shows they're more optimistic about the economy and earnings.
Hugh Johnson
Yesterday's weak ISM number shows the manufacturing sector is just limping along. Another report this week suggests that Friday's August employment report may not be very good. Worries about the economy resurface and are reflected in stocks,
Hugh Johnson
It is encouraging that the market has been able to hold together. The overall message is that the events in Southeast Asia will in time have an impact on the U.S. economy, but not a major impact in 1998. And that is really good news.
Hugh Johnson
Investors become very guarded at the point that they think oil prices could take a chunk out of economic growth,
Hugh Johnson
Time to dig in and start to go.
Hugh Johnson
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