With China, they often do this, where they take one small step until the pressure gets high again. It's unlikely that China is really going to move aggressively to slow their economy. It would take aggressive moves in order to make an impact on China's growth at this point.
More Quotes from Marc Pado:
Mergers are looking to help us hold our ground today.Marc Pado
It is a domino effect of negative 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
Consolidation is a healthy development, especially in light of the pop in crude and the worsening inversion of the yield curve.
Marc Pado
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.
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
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