46 Quotes by Marc Pado

Those very short-term support levels were broken yesterday, but the supports under the current levels are substantial. Now that the Fed has made it clear that we will see one if not two more rate hikes, the uncertainty has been removed. We expect the focus to shift to first-quarter earnings results, and they are expected to be good.

Every time investors think the Fed is going to be one-and-done, they rally the market 100 points. Yesterday was no exception. The potential for an additional 25 basis points in June faded from over 50% to about 28%. That gave the market the added juice it needed to penetrate serious overhead supply.

Even though the figures were revised slightly lower, investors were relieved because the data won't provide the Fed with an excuse to continue raising rates past January.

Earnings will be the main focal point, although the rumbling is already starting about the upcoming FOMC meeting.

The Santa Claus rally is clearly underway. I expect to see the bulls carry the averages to new 4 1/2 year highs right into next Friday's close.

The momentum has swung in favor of the bulls, but we need to keep it going or it will look like another failed attempt at new high ground.

And the forward-looking statements that companies are likely to give will probably be restrained given all the negatives that companies see: rising interest rates, rising mortgages, a lot of concern.

The bulls have some work to do today.

The bulls had a real opportunity. Earnings continue to roll in, and for the most part they are in-line or better than expected.