I think that the first two weeks of November will be wishy-washy, as we continue to trade in this range we've been in recently that started with the earnings, but as investors digest the month's economic news, which should be positive, we'll be able to move higher again,
More Quotes from Peter Cardillo:
The market at the moment is oversold, paranoid and the psychology is sick.Peter Cardillo
It's one of those days where investors are looking at the strong economic news for what it says about the economy, rather than what it could mean for interest rates.
Peter Cardillo
That's what is putting a cap on the good news in the market.
Peter Cardillo
There are some slight movements in technology stocks with sporadic gains, but nothing to write home about.
Peter Cardillo
Now you have the Bank of Japan, the European Central Bank and the Federal Reserve all with the same interest-rate policy, and that's very positive. It's a strong indication that global central bankers will contain inflation and not necessarily choke off economic activity, which has been a big concern here.
Peter Cardillo
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