Arthur Hogan Week Quotations

I think one of the conundrums the market faces is that we continue to see energy prices go higher. It's going to be hard to get the market to rally much this week with oil starting at $68.

We've had a very good week and there's been some profit-taking. It's nothing to be concerned about.

The three things we'll digest this week are earnings and guidance for the fourth quarter, and the long-term forecast for energy prices.

If you look at Fed funds futures for December, they are indicating that the Fed will take a breather at one of the remaining meetings this year. It's been one of the positives in the last week as it runs through investors' psyches.

The market has been responding well in terms of energy prices coming down, but those are very volatile numbers week over week. Any major swing from the consensus figure can add a lot of volatility.