Yet again we're seeing relative strength in the technology sector and we've really seen this for about a week. Big Tech is leading the market and that's a good sign for that sector.
More Quotes from Timothy Ghriskey:
If you look at today, you've got to say yesterday was a sucker's rally,Timothy Ghriskey
The prospect of nearing the September lows is propping up the market. Certainly the news was bad last night, but the market action over the last several days has been more positive.
Timothy Ghriskey
We're seeing a little selling today, but I think it's important to remember that we just hit an 18-month high on the Dow, and so we're going to see a little pullback short-term.
Timothy Ghriskey
I think today is a day of portfolio window dressing, with asset managers making sure they don't have cash sitting around for the end of the year, which tends to be favorable for stocks.
Timothy Ghriskey
Maybe there aren't a lot of sellers left and buyers are starting to put money into the market,
Timothy Ghriskey
The main thing is the economic news looks like its steadily improving and that should continue to help stocks.
Timothy Ghriskey
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