Joe Sunderman
Joe Sunderman
blue news oil prices
I think the record-high oil prices are still weighing on the market. Also, the Merck news is now spilling over to Pfizer, J&J and the blue chips.
days far gains good hold market thus together
I think it's good that thus far the market has been able to put back-to-back up days together and to hold on to those gains today.
december influence late looking maybe near news people recently surprising
The Cisco news isn't that significant, but maybe it's enough to influence people who were looking to get out. The S&P 500 had recently been right near its late December highs, so it's not too surprising to see this consolidation.
january market profit seeing since today
The market has had a respectable run-up since its January 24 lows, and today you're seeing some profit taking.
consumer continues crude dominate economy high impact interest near oil prices remain term worries
Oil continues to dominate trade, with crude at or near the highs. Worries remain about how high prices over the long term will impact consumer spending, the economy and interest rates.
areas bouncing energy extension gains modest saw seeing selling sort
You're seeing a modest extension of the gains of this week, with areas that saw some selling recently, like energy, sort of bouncing back.
carrying high oil prices retail seeing
I think there's a sense that with oil prices as high as they are, that's carrying over to the consumer, which you're seeing in the retail sales.
continues factor
The seasonality factor continues to play a big part in this market,
bullish continued market near number pattern strong top trading
The market is at or near the top of its trading range. So it would need to be a really strong (payrolls) number to get the market continued on its bullish ways. Right now, I just don't think that pattern is going to happen.
critical market nice point run
The market has had a nice run recently, and we're approaching a critical point on the S&P 500 in the 1,210 through 1,220 range.