We're pinned in by interest-rate uncertainty, we're pinned in by the Fed meeting coming up at the end of June. With those two things hanging over our head, the bottom line is the market really hasn't been taking a position on either side of the coin.
More Quotes from Bryan Piskorowski:
It was really a story of positive earnings on the tape and no major hiccups on the economic front. You had decent reports from three sectors in general industrial, tech and health care.Bryan Piskorowski
I think that the averages are holding their own. You've got to keep in mind that we're coming off five weeks of gains on the Dow and the SP. The housing numbers were strong, so we're starting off the week on the right foot, but we've got a lot of economic data to get through this week and we're going to be looking for signs that the economy is holding up.
Bryan Piskorowski
The stock market is still hung over after Greenspan's speech yesterday,
Bryan Piskorowski
There is just no good news out there right now, and people are not willing to get involved in the market going into a weekend. You've got a buyers' strike going on.
Bryan Piskorowski
The elusive trough in corporate profits does seem to be at hand, but what the Street is looking for is confirmation. What we're looking for is the guidance and giving of the time frame of when the worst will be over.
Bryan Piskorowski
We're giving back a little, but you need to put it in perspective. The Dow lost 1,700 points from July 5 to last Wednesday, and then made up north of 1,000 in four days. So a little profit taking, particularly when you've got weak consumer numbers and other factors is certainly no surprise.
Bryan Piskorowski
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