After last week's great run, the market is directionless. We're somewhat hostage until we get more proof that the economy is slowing.

After last week's great run, the market is directionless, ... We're somewhat hostage until we get more proof that the economy is slowing.

If we get any guidance that the Fed would be guiding toward a neutral stance, that could be a (positive) impetus, ... The economy is slowing but not recessing and the Fed will be there if necessary.

It will be interesting to see how quickly the market goes to worrying about what the Fed will do in August. We've just seen one month's statistics showing the economy is slowing.