Tim Heekin
Tim Heekin
bottom build economic few market monday next numbers
We have no economic numbers Monday and my sense is that the market is going to keep consolidating for the next few sessions, before we make a bottom and then build from there
brakes fed fueled lead meeting people realizing shifted
The lead up to the Fed meeting was that we are going to be done soon, they are going to put the brakes on, and that fueled the momentum. But now people are realizing that they aren't done yet, and that's shifted the psychology.
hints market numbers people watching week
All of the numbers this week are potentially market moving. I think people will be watching the numbers for hints about inflation.
causing company economic news purely technical
This is purely a technical rally. There is no economic news, no company or sector-specific news that's causing this,
highs hit less market trying
The market has been trying to hit these highs for some time, but we've been nearing them with less and less enthusiasm,
attendance gotten market path poor quiet resistance tired
I think the market has gotten tired ... and poor attendance is also contributing to a very quiet market today. I think this is short-term, but I think the path of least resistance is down.
dial morning move quiet reduced volumes
It's been pretty quiet all week, volumes have come down...You have pretty significantly reduced volume here in August, ... This morning there was nothing to really move the dial on PPI or jobless claims.
half people rally second setting themselves
After that period, you could see a rally in July, with people really setting themselves up then for the second half of the year.
less people wednesday
It's the Wednesday before Thanksgiving, there's no one here, desks are half-staffed. There are going to be even less people around Friday.
highs hitting tear today
We've been on a tear and it's just kind of flattening out today after hitting some near-term highs yesterday.
remains whether
Whether this is sustainable remains to be seen.
accounting catalyst continued corporate flirting key markets move rally support technical
We're flirting with key technical support levels. Markets rally but then can't sustain. There's continued nervousness about accounting and corporate profits, but no catalyst to move us out of it.