Peter Cardillo Technical Quotations

We did get surprising oil inventory data, but it's still below that $60 range. The market is running against options expirations, which are causing technical difficulty.

From a technical standpoint, the fact that the market is testing the lower end of the trading range with low volume suggests the risk of the yearly lows being tested increases.

We're in the midst of a technical correction, and I suspect for the next week or so we'll trade within this range. The market has already discounted a lot of the economic and earnings news.

Very well managed, ... I just yesterday raised it to a 'strong technical buy.'

As long as there is no inflation this is extremely good for the financial markets and also for the bond market. What we saw a couple of weeks ago was a backup due to technical factors rather than any fundamental changes.

There's been a technical erosion and it continues to feed off of itself,

It's a technical rally from a very oversold condition.

It's a welcome technical bounce and a relief for the markets.

It's quite encouraging. The sentiment is better and you've got the indexes passing the highs of the year and holding, so you've got some technical support as well.

The market should keep doing well in the short term. There's the seasonal factors, the economy should keep doing OK, and from a technical standpoint, things still look good. I think that's why the market has been able to ignore the negative implications of the collapse of the dollar so far.