Brett Gallagher Markets Quotations

From a technical standpoint the markets are a little oversold. There's tinder for the fire if the markets pick it up. Investors have to reconcile themselves that they're never going to find the bottom.

It is a little bounce and it's not to be unexpected given how much the markets sold off last week so I wouldn't read too much into this. Earnings are going to be very important to help set the tone, but the out quarters are still very much at risk and those estimates have not come down to the extent I think they should.

As we kick off earnings season, it's going to be important what these companies are saying. Estimates are down so low, that if companies keep disappointing, markets are gonna have a big hurdle to overcome.

The undertone to the market is still somewhat positive. The economic data shows that we have bottomed. It's what allowed markets to recover in early January. But the accounting issues are here to stay.

The markets obviously liked it. For a day.