Financials led the sector rally yesterday. Tech has been getting a lot of bullish press recently, but its relative performance continues to suffer. It's premature to put this into the leading sector category.
More Quotes from Ken Tower:
Investors rejoiced yesterday as energy prices fell, but they ignored rising interest rates. I don't think it will be too long before the focus shifts back to rising rates and an inverted yield curve.Ken Tower
The market strength is good right now, but when I look ahead, I'm feeling rather torn right now. My forecast this year is for a bear market, but for now, I'm willing to give the bulls the benefit of the doubt.
Ken Tower
What would make me more optimistic is if there was evidence that money on the sidelines is being put to work. But I'm not convinced.
Ken Tower
Paradoxically you need people to be more discouraged in order for there to be a market bottom.
Ken Tower
The market was ripe for some good news to provide an excuse for the rally. If it wasn't (Greenspan), it would have been something else.
Ken Tower
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