The market has been holding up, despite how bad the news is.
We're still in that pattern. Everyone is on hold and waiting for the next (quarterly results) pre-announcement season in September.
Everybody's holding their breath wondering what the next event is going to be. I don't think anybody expects a rally any time soon.
People are holding their breaths, waiting for an impetus to move,
There's a lot of investor apathy out there right now, and I don't see any incentive for people to move until the payrolls report. After that, people who are holding out may be willing to get back in.
I think that consumer confidence number really shocked a lot of people. Because if consumers aren't going to hold this economy up -- the bad news just keeps on coming.
I'm not sure what's holding investors back, but I'm not anxious. January was a pretty typical month and I think it's only a matter of time before markets do better. I'm just not sure what the catalyst will be.
Every time the market pulls back, people come back into the market. I think the real driver is there's no return holding cash.
Basically we're holding our breath and seeing what happens on the Fourth.