While we would like to see a follow-through day, the positive implications from yesterday's rally should help reinforce a support under the market at Tuesday's intraday lows. Weakness in same-store retail sales and continued strength in crude will represent the first obstacles for the bulls today.
More Quotes from Marc Pado:
By the end of this week, the attention will shift to the December employment report and then on to earnings starting next week. By the end of the month, earnings and forward-looking projections will be what needs to step up to the plate if the market is to continue the rally.Marc Pado
There was so much expectation built in for the stock ... I think that the expectations were about as high as they could get for it. I think it was a case of buy on the rumor and sell on the news.
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
Mergers are looking to help us hold our ground today.
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
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
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