Last quote by Bruce McCain
Bruce McCain quotes
The optimism that was driving the market earlier in the summer has faded. Now, with that momentum having faded, you need to see fundamentals come through.
Most of the indicators I've seen suggest that the markets really don't anticipate there's much chance of a hike this month. If they come with a rate hike, a lot of investors will scramble.
Looks like we got through a period of exceedingly low volatility, but that seems to be over for now.
Anything that really would suggest that the consumer is starting to step up and pick up a little bit more of the load would give you some optimism that maybe we can get an earnings break-out at some point.
It's a reassuring sign, but not a bullish green flag that means we're going on to major gains in the short term.
The Fed seems to think the economy is quite a bit stronger than some market pundits and maybe investors in general think. Not only is there the concern that they will, in fact, do damage to the economy, but also one more step in removing the easy money that clearly has been a benefit for rising asset prices over the last few years.
You've had a little bit of an emotional relief that will tend to shore up the market in the short-term. You just need a continued flow of ... news that beats expectations, less bad than expected.