The market is very resilient. We're shaking off any kind of bad news.
More Quotes from Tim Heekin:
I think the rally just ran out of gas. You're right at the beginning of the earnings reporting, and all the good news is priced in, and buyers are getting a little tired. I think it's time for a little pullback. After we see a little consolidation, then we can go higher again.Tim Heekin
All the big news is out of the way, the Fed, the elections, all the big companies have reported. So we've got nothing new except this piece of bad news from Cisco.
Tim Heekin
A lot of people are taking the week off and there's not much news, so that creates this volatility.
Tim Heekin
The tech sector as a whole has performed so badly this year the Nasdaq has been the worst performer year-to-date. I think a lot of money flew into the 10-year bond during the conventions, during the Olympics, and now people are looking to put their money into the beaten-down sectors, like tech.
Tim Heekin
The market has been trying to hit these highs for some time, but we've been nearing them with less and less enthusiasm,
Tim Heekin
This is purely a technical rally. There is no economic news, no company or sector-specific news that's causing this,
Tim Heekin
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