We've been on a tear and it's just kind of flattening out today after hitting some near-term highs yesterday.
More Quotes from Tim Heekin:
It's the last week of August, people are on vacation and a lot of the big institutions in New York are half-staffed.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
The market is usually ahead of a recovery, and in the past, the market was reacting to negative data. It seems to be shaking off bad news now. To me, that's good news.
Tim Heekin
It's been pretty quiet all week, volumes have come down...You have pretty significantly reduced volume here in August, ... This morning there was nothing to really move the dial on PPI or jobless claims.
Tim Heekin
Even with the Dell news, the two themes we've seen today, and lately, have been strength in select technology -- today, that was the chip sector -- and strength in industrials.
Tim Heekin
Semiconductors and software have been the leadership for the past few months, so when there's tech selling now, they tend to lose support first. But we're at the top of a range, technically, so we're going to see some selling for the next two or three sessions.
Tim Heekin
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