The little bear-market rally we saw earlier and yesterday just ran out of buyers.
More Quotes from Timothy Ghriskey:
What our economist thinks at this point is that we have probably seen the last of interest rate hikes by the Fed, which could be a positive thing for the transportation sector,Timothy Ghriskey
If (these warnings don't) wake up people that we're in preannouncement season and the preannouncements are going to be bad, I don't know what will,
Timothy Ghriskey
There was strong economic data this morning, which sent bond yields higher.
Timothy Ghriskey
We saw crude reverse from the morning, and the market rises. The price of crude oil has such an impact across the economy, and you see that reflected in the market.
Timothy Ghriskey
A lot of people are calling for a correction since we've had a pretty uninterrupted run since mid-November, and that would actually be healthy for the market, ... But when you hear everyone forecasting a big correction, it often doesn't happen.
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
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