I get the impression that every pullback this year has been met with new buyers coming in. There's still plenty of money out there that people are willing to put back into stocks.
There basically is an absence of sellers in the market. It seems the market is a little ahead of itself, but people are reluctant to sell. People are still putting money to work here in the market.
It's a fairly impressive rally. There's some serious longer-term money flowing in today (Wednesday). We continue to get positive indicators each day.
It looks to me like the market is getting a little psyched-out with these psychological levels, particularly 2,000 on the Nasdaq. After hitting that, people have pulled back a little, but there's still plenty of money on the sidelines. It could inch back up.
I'm actually encouraged the market isn't down more than it is. We've been seeing a lot of rotation, but we also saw some money being put to work last week.
It has been quiet in general. We say some money go into mutual funds this week, so there was some buying this afternoon on the morning dip.