Yesterday was perhaps as technically disappointing as last Friday.
More Quotes from Marc Pado:
Any time you remove uncertainty, it's good news for the market. Having raised the question, the market has shifted its attention to Greenspan from earnings.Marc Pado
Net-net, there's probably plenty of oil in the market. OPEC left production quotas, so that's a plus for the market this morning.
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
There is no question that the tone has turned more positive. We haven't broken out yet, but the markets are poised. Now all we need is for the news to hit the ball out of the park, and it needs to be perfect. Crude is still high and the yield curve is still flat, but the market's focus is on other things right now.
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
The bulls have some work to do today.
Marc Pado
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