The good jobs report bought the bulls a reprieve, and now it is up to earnings to carry the torch. We're still heading right into the seasonally weak February and March months in a bearish midterm election year with rates rising and oil prices rallying. Januaries tend to start strong, but it is how they finish that matters.
More Quotes from 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 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
Today, we're keeping an eye on the same old catalysts, rates and crude. The drop in interest rates overshadowed a rise in crude Tuesday . However, crude is still well entrenched in its trading range, on a long-term basis.
Marc Pado
In the last month the market moved up despite rising interest rates and despite higher oil prices, focusing instead on the upcoming earnings season.
Marc Pado
This morning stocks are looking to start the day slightly lower.
Marc Pado
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You can be right or you can be happy.
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