Peter Cardillo Obvious Quotations

It is obvious that the economy continues to grow and that the job market is growing. Today's numbers are offering investors a sense of relief that perhaps the Fed may not have to be too aggressive in raising interest rates.

As a result of that, every now and then the market needs to remind investors that Wall Street is not a one way street, and things don't last forever and things don't go up forever. It is quite obvious that the Nasdaq was due for a correction.

It's quite obvious that the market has been rallying for the past four days, hoping for a 50-basis point rate hike by the Fed -- and they (the Fed) did (raise rates that much). This indicates they are ahead of the curve, but now reality sets in and we're in a trading range.

The major companies have already reported and it's quite obvious that this market just can't shake the earnings syndrome.