If you're going into the worst year of a four-year cycle and heading into one of the worst months statistically of the year, then it seems like a likely opportunity for the market to see its 10 percent correction.
More Quotes from Marc Pado:
It's going to come down to how sales are pre-Christmas, what we hear from the retail sector, ... I would expect next week, while remaining positive, to have not as robust a move as we saw this week.Marc Pado
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.
Marc Pado
The 10-year has been trying to anticipate the fed funds rate. As soon as (Fed policy-makers) made it clear that they weren't going to stop at 4.75 percent, there was a big jump.
Marc Pado
Every time investors think the Fed is going to be one-and-done, they rally the market 100 points. Yesterday was no exception. The potential for an additional 25 basis points in June faded from over 50 to about 28. That gave the market the added juice it needed to penetrate serious overhead supply.
Marc Pado
Even though the figures were revised slightly lower, investors were relieved because the data won't provide the Fed with an excuse to continue raising rates past January.
Marc Pado
This morning stocks are looking to start the day slightly lower.
Marc Pado
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Because after my first year I had a lot of success, took everybody by storm, came back the next year thought it was easy and didn't have near the season I had the previous year. It was kind of a wake-up call. And so, life goes on.
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