We've sort of run into resistance, we need a significant catalyst to move us further and it's just not there.
We've sort of gotten through the meat of earnings season, and we're going to start focusing on the state of the economy.
I think the fact that we had this awful bombing ... and yet the market seems to be moving on, that it's starting to become sort of priced into the marketplace. We may get investors to get back in off the sidelines at some juncture as we start to get earnings reports for the quarter.
I think there's going to be ongoing euphoria about the Microsoft decision. It's not just Microsoft ? it's sort of a pro-business decision.
We need some capitulation in the economy and if we get any sort of turnaround in the economy we can turn this market around on the Nasdaq. We're clearly in a market searching for a bottom.
The revisions are in the right direction, but there's still some softness in the manufacturing sector which keeps the Fed on watch in terms of interest rates, ... It's sort of an 'in line' number, but not really closing the door to keeping the Fed aggressive with monetary policy.