When all was said and done, the market showed its resilience once again, ... The market performed well despite today's extremely weak consumer sentiment number. Investors seem to be looking over a softer economy for the next few months towards a stronger economy to start 2006.
More Quotes from 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
Following the disappointing tech news after the close, it looks like the market could be in for rough sledding at the open.
Michael Sheldon
Looks like the stock market has gotten off on positive footing after yesterday's broad-based decline. We're seeing gains in eight of 10 SP sectors. The data that came out so far was pretty much in line with expectations. Looking ahead, investors will be keeping an eye on auto sales.
Michael Sheldon
You can't blame it all on energy because the trade deficit excluding petroleum rose faster than the overall deficit. The main culprit once again continues to be that imports are growing faster than exports.
Michael Sheldon
Over the next few trading sessions, it will be important to watch whether the stock market sells off on rising volume. If that should happen, that could mean a spring correction is on the way.
Michael Sheldon
Pepsi's report looked pretty positive, in addition to Cisco, which is a bellwether in technology industry. Cisco's results last night were certainly a positive.
Michael Sheldon
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