There's an unbelievable number of reports coming out, any number of which could move us one way or the other, ... If we have a blowup in the jobless claims, and it goes above 400,000, if the consumer sentiment number doesn't confirm today's consumer confidence number, you could see some selling.
More Quotes from Art Hogan:
That might be taking a little wind out of the sails.Art Hogan
I think this can sustain for the next day or two, at least until we get to all the earning and economic news in the second half of the week, ... Right now, the path of least resistance is still to the upside.
Art Hogan
The problem is that terrific news on inflation is not what we need right now, ... We need terrific news on the demand side of the economy. The economy hasn't stabilized yet so we don't have any great need to buy stocks.
Art Hogan
If we continue to see the trend slowing and we get better (economic) numbers, I think the Fed can take a pass at the end of the month and wait until August.
Art Hogan
During earnings, we're often in a trading range, and I think we still are right now. We've got 100 members of the SP reporting this week, a lot of economic news and the Fed tomorrow, so for the market to go sideways a bit is not a bad thing.
Art Hogan
Outlook statements for the first quarter are the best that we've seen in some time, but the question is, how much of that is already baked into the market,
Art Hogan
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