I think the market is holding up pretty well after the recent rally, ... The economic news was mixed today, and investors are eyeing Ivan and the price of oil.
More Quotes from Peter Cardillo:
The earnings period has been pretty good so far, ... But its having a limited impact on stocks because the market is discounting higher interest rates in the months ahead.Peter Cardillo
The major companies have already reported and it's quite obvious that this market just can't shake the earnings syndrome.
Peter Cardillo
The news has been pretty good on the economic front, but there's a hesitancy to move higher in the short term. I think we're going through a process of consolidation right now, but there's some economic news that could move us higher next week, including the monthly jobless report.
Peter Cardillo
Oil is trading higher today due to the new hurricane fears. The big story of the week, which will be the market mover, is going to be the Fed.
Peter Cardillo
The market at the moment is oversold, paranoid and the psychology is sick.
Peter Cardillo
I think they're going to take a wait and see attitude.
Peter Cardillo
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