The market will be swimming upstream against a small current. We are still seeing a market rally that has not broken any key technical supports, but there are crack in the foundation. If they start to see selling on the news by the end of the day, that, too, is a warning sign that this rally is nearing an end.
More Quotes from Marc Pado:
Nobody likes to fail in the fourth quarter. There are going to be companies that did well in the holiday season and they will be able to add to gains.Marc Pado
Obviously the Iranian thing is a wild card and nothing's going to get resolved in the short term, but the earnings are really what's key to the market and any longer-term perspective.
Marc Pado
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.
Marc Pado
It is a domino effect of negative news.
Marc Pado
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.
Marc Pado
It will impact the Dow but on broader basis it won't do much to the market. I think there are much bigger factors today such as the semiconductor index above its 200-day moving average and it faces some cautious comments out of Merrill,
Marc Pado
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