Art Hogan Concerned Quotations

Obviously, we are still concerned about how much the economy is slowing going forward. There are a lot of people who aren't making bets on this marketplace.

For two weeks we've been concerned about earnings, energy prices and the euro,

It didn't really come as a surprise -- but, having said that, the broader thought process that the economy isn't doing well in the second half compared with the first half has investors concerned that we may need to test the lows of the market again.

What Goldman is saying about Sun and EMC is IT (information technology) spending hasn't picked up that much, ... But we're more concerned about the economic recovery, so the data will probably play a larger role.

In terms of the thought process on the economy, today's ISM data on the services sector didn't help. It didn't really come as a surprise -- but, having said that, the broader thought process that the economy isn't doing well in the second half compared with the first half has investors concerned that we may need to test the lows of the market again.