I think there's still more upside ahead into next week, and as we look at the market beyond near term, I think the surprising strength in the economy is going to help us in the first half of 2006.
The ability of Intel to come out and say a 'no worse than expected' story pleased the market. There are many other corporations in technology that are in that position so that if the slowdown is just a slowdown, there's good upside in many of those issues.
We weathered a near-term storm of the recent tech earnings well. The market has a lot of consolidating to do, and there isn't a catalyst for serious upside at the moment. Only quality earnings amongst all sectors will help us.
There's been a decisive shift to the upside in market sentiment. The Dow has done its job and it has made a statement of recovery based upon defensive-style spending, cyclicality and the absence of accounting-related issues for the Dow.
There's been a decisive shift to the upside in market sentiment, ... The Dow has done its job and it has made a statement of recovery based upon defensive-style spending, cyclicality and the absence of accounting-related issues for the Dow.
It's a transition market. I think (last week) indicated the willingness to look forward at the upside of the story. There isn't a lone voice expressing positive attitudes toward technology but this week indicated the ability of the market to look forward.
The bias for today and tomorrow should still be to the upside because of the end of the quarter when you get portfolio adjustments.