Tim Heekin Rally Quotations

We're flirting with key technical support levels. Markets rally but then can't sustain. There's continued nervousness about accounting and corporate profits, but no catalyst to move us out of it.

I think the rally just ran out of gas. You're right at the beginning of the earnings reporting, and all the good news is priced in, and buyers are getting a little tired. I think it's time for a little pullback. After we see a little consolidation, then we can go higher again.

Earnings have been fine, but they just haven't been as robust as people were hoping. The guidance for the third and fourth quarters hasn't been that strong, and part of the rally was based on people betting that the second half of the year would be good, so with the numbers not saying that, you're seeing some selling.

The news created volume on positive speculation about other potential corporate mergers. However, last week was a down week, so we have a little bit of a bounce-back rally Monday.

After that period, you could see a rally in July, with people really setting themselves up then for the second half of the year.

The market's had a pretty good run this week, in terms of volume and gains, and I think coming in this morning, there was the potential to build on that rally if the jobs report was a blowout.