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.
More Quotes from Marc Pado:
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.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 market is down as crude prices are up because of the approaching hurricane, which could hurt production, and then tomorrow's FOMC meeting is also going to be important, ... I think the Fed will do 25 basis points but then the commentary will be import
Marc Pado
Tech might get a little direction from how people trade Cisco today.
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
The market had been ignoring the recent run in crude, brushing it off as temporary emotional buying as a hedge against economic sanctions against Iran. Whatever the reason, oil is back up against all-time highs, and that was making the markets nervous.
Marc Pado
Readers Who Like This Quotation Also Like:
Based on Topics: Uncertainty QuotesOnce a place becomes special, it's no longer special.
Peter Storey
If you just want to be a star, go away.
Jenifer Lewis
I think there's some connection between absolute discipline and absolute freedom.
Alan Rickman