The market remains technically weak, ... The story hasn't changed.
More Quotes from Peter Cardillo:
I think what happened yesterday and Monday was a wake-up call for investors,Peter Cardillo
Normally, with gold surging and the dollar down, you'd see that hurting stocks, but the market is ignoring that today, which is somewhat positive.
Peter Cardillo
The market is very much gripped by earnings' warnings. That's why the market seems to be lacking a clear direction on the upside.
Peter Cardillo
Energy prices are the reason for this. The crisis in the Middle East is obviously going to keep the price of energy at a strong level and that means this market is going to now be fearful of inflation exploding. We could be in for a further bumpy ride.
Peter Cardillo
Mr. Greenspan may have just given us some time here. I think within the next 10 to 12 days this market is probably going to consolidate and stay with a 300-400 point range. ... When we get another interest rate cut, then the market can sail above that 9,000 level.
Peter Cardillo
It doesn't surprise me. We all know the House is going to vote to impeach the President. The fact is that economic times here in the United States are still quite good.
Peter Cardillo
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