Even though yesterday's rally may have faded, the leadership, internal action, and breadth were all reasons to anticipate further upside potential heading into the seasonal year-end pattern.
More Quotes from Marc Pado:
And the forward-looking statements that companies are likely to give will probably be restrained given all the negatives that companies see rising interest rates, rising mortgages, a lot of concern.Marc Pado
Those very short-term support levels were broken yesterday, but the supports under the current levels are substantial. Now that the Fed has made it clear that we will see one if not two more rate hikes, the uncertainty has been removed. We expect the focus to shift to first-quarter earnings results, and they are expected to be good.
Marc Pado
The negative productivity number we saw today about the fourth quarter raises fears that companies are not going to be able to absorb those costs.
Marc Pado
The bulls had a real opportunity. Earnings continue to roll in, and for the most part they are in-line or better than expected.
Marc Pado
Consolidation is a healthy development, especially in light of the pop in crude and the worsening inversion of the yield curve.
Marc Pado
While the market was still moving higher, the internals leave much to be desired. The action is not negative, just not impressive, which leads me to believe that we are in an up-trending trading range.
Marc Pado
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War seems to be one of the most salutary phenomena for the culture of human nature; and it is not without regret that I see it disappearing more and more from the scene.
Karl Wilhelm Von Humboldt
Shows have been sold out. It's overwhelming, you know. I had no idea what to expect with this new sound and everything and just to see so many people just come out and embrace it, it's overwhelming.
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To enter by reason means to realize the essence through instruction and to believe that all living things share the same true nature, which isn't apparent because it's shrouded by sensation and delusion.
Bodhidharma