There's been a pare back and pause motion going on in the market. As we move into a holiday weekend, it could be a good thing that we don't get too far ahead of ourselves.
More Quotes from Bryan Piskorowski:
We are in a bit of a news vacuum as we wait for the deluge of corporate earnings reports.Bryan Piskorowski
We've had pretty sizable gains in the last two days, so you're seeing a little rotating out of sectors and some profit taking. Last week we had a one-hit wonder. This week we're trying to see if we can do a little better.
Bryan Piskorowski
It's got a bit of a Yankee doodle dandy feel to it today. However, we might have had a rise yesterday (Monday), too, had the plane crash not happened.
Bryan Piskorowski
We've had some rainbows, but the themes of low visibility and investor uncertainty have run loud and clear here. But you get to the point where selling has run its course and late-day flurries have shown that this process is under way.
Bryan Piskorowski
For the first nine months of the year, you had a leveling, a digesting of the rampant gains of 2003. Starting in mid-October, it got better.
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
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