The technology sector continues to weigh down on the market, and you have that spillover effect from the U.S., which is facing the same kind of concerns -- slowing economy, the revisions of earnings that have been continually dropping.
Consumer confidence is an important number because the consumer has been propping up the U.S. economy all these months. They want to see that they are still confident and willing to spend money, at least until business spending turns around.
This week has been characterized by a lot panic selling more than anything. There's a lot of uncertainty.
We have seen a good three or four days of trading so (investors) are taking profits at this point.
This pullback is not necessarily a bad thing. The market is just testing its prior lows and if it can hold those lows then it's a good sign.
