Richard Suttmeier
Richard Suttmeier
based bring fact greenspan horrible lose losing message rates risk send three upbeat weeks
Greenspan is at risk of losing his credibility, based upon the fact he was so upbeat two or three weeks ago, ... If they don't bring rates up at this meeting, he will lose credibility -- that would send a horrible message to markets.
allow broaden certainly economy federal gains grind growth hurt longer looking looks market moving nice pattern perspective point rate remain reserve stated stronger term theme trader
If you are a short-term trader you like to see some more gyrations. But certainly from a longer term perspective you want to see the market broaden out, have a very nice looking pattern to it technically so that you are not getting hurt too much in a market that's going to grind higher. It looks like that will continue. My theme is productivity. The Federal Reserve stated that that is a very important point in moving the economy forward. The Fed will allow a stronger growth rate as long as productivity gains remain strong. And I think that's going to be the case.
below fall looking point potential stay
If we fall below 7,700, we're looking at a potential fall to 7,200, where it was in October. That's a 500 point range, but it's one we could stay in for a while.
bull climb closer couple hundred maybe resistance roaring slow steady terms towards
It's not a big roaring bull market. It's just a slow but steady climb towards resistance in terms of the Nasdaq. We could get up to 4,400 or 4,600 by the end of the quarter. In terms of the Dow, we're getting closer to resistance and we're in the zone. Maybe we can go up another couple of hundred points.
bias closer federal neutral raise rally reserve seen
As we get closer to the quarter-end, if the Federal Reserve does not raise rates, and even indicates a neutral bias after that, you will have a quarter-ending window-dressing rally like you've never seen before,
stage
I think we've set the stage for a year-end rally.
accounts based declines hurting investors looking march obviously problems saw sell selling shore strength trying
I think there's still a lot of investors -- particularly the shorter-term investors -- who are looking to sell strength. They're trying to shore up their accounts by selling strength in this market. They've just had a lot of problems and they were obviously some hurting portfolios, if you will, based upon the declines that we saw for March and for May.
breaking left lows ourselves support
We've left ourselves without support as we're breaking to new lows for the year,
blow buyers less past seen snap talking week
When we've had company-specific disappointments like this over the past two years, we've seen buyers come in after the midday to snap up bargains. If that doesn't happen, it could be very bad. We could see the Dow at 10,500, which would be a blow less than a week after everyone was talking about tripping over 11,000.