My sense is that we're going to keep consolidating over the next few weeks after the kind of run we've had. Then you could see stocks start to move higher again.
To the extent that there remains pressure on stocks even when the company reports some good news means that on a broader level, people don't want to own anything right now.
The PPI today obviously affected the bond market. Stocks are more neutral right now in that you have oil stocks, materials and drug stocks doing well today, and that's countering the concerns about inflation.
The PPI today obviously affected the bond market, ... Stocks are more neutral right now in that you have oil stocks, materials and drug stocks doing well today, and that's countering the concerns about inflation.
We've had two days of pretty good rallies and now there's a bit of consolidation. We're not going to go anywhere meaningful until lots of these issues get resolved. When stocks get beaten down far enough, people get interested.