The main thing is the economic news looks like its steadily improving and that should continue to help stocks.
More Quotes from Timothy Ghriskey:
They are saying the economy is going to slow and that there's no inflation but that we still need to raise rates. Investment professionals worry that the Fed will go too far and grind the economy into a recession.Timothy Ghriskey
There's nothing wrong with having a portfolio heavily weighted towards technology, ... These are the great growth companies of tomorrow. Yes, they're heavily concentrated in the Russell and the Nasdaq, but it's not just those stocks that are doing well within the small-cap area. There are lots of companies from various sectors of the economy within small caps that have been doing well here.
Timothy Ghriskey
The Dow continues to outperform, ... This cyclical bias has been pretty consistent the last two weeks, with the exception of yesterday, when technology was participating, too.
Timothy Ghriskey
But the language in the Fed comments and in Greenspan's speeches of late has been pointing to rate hikes becoming more aggressive, ... The word 'measured' is going to be dropped soon, maybe at this meeting, maybe at the next.
Timothy Ghriskey
Yet again we're seeing relative strength in the technology sector and we've really seen this for about a week. Big Tech is leading the market and that's a good sign for that sector.
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
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