The market is very oversold right now and I expect it to move higher over the next week or two. But beyond that, it's going to be very difficult for it to make much headway until we get a clearer sense of how much the Fed is going to move.
More Quotes from Michael Sheldon:
It's been a choppy few weeks. While the Dow and the SP 500 have started to perform better, the Nasdaq is still below its 50-day moving average and its January highs.Michael Sheldon
The markets remain overbought at current levels and could see some profit taking at any time, ... However, market internals remain very positive, so investors are reluctant to sell much into that. Given this scenario, we are likely to see more gains through the rest of the year, and some consolidation in early 2005.
Michael Sheldon
The markets were able to build on yesterday's gains. Market breadth was encouraging.
Michael Sheldon
The economic data over the next several weeks are going to be difficult to interpret, and it'll be interesting to see how the market reacts,
Michael Sheldon
Texas Instruments' numbers were broadly in line with estimates, but there may have been some disappointment that they didn't raise the high end of the range.
Michael Sheldon
The news from Cisco was disappointing for tech investors,
Michael Sheldon
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