Douglas Altabef

The market is in a wait-and-see mode. It's waiting for confirmation of an economic recovery, some kind of resolution on read more

The market is in a wait-and-see mode. It's waiting for confirmation of an economic recovery, some kind of resolution on Iraq and on what the Federal Reserve is going to do in its meeting this month.

Clearly you're seeing conflicting signs about the economy and the market reacting to that.

Clearly you're seeing conflicting signs about the economy and the market reacting to that.

What companies report now is less influential than what they say about future quarters.

What companies report now is less influential than what they say about future quarters.

The forecasts for the second-half of the year for the most part seem to support a recovery, but to some read more

The forecasts for the second-half of the year for the most part seem to support a recovery, but to some extent, that's already priced into the market, so you're not seeing that much stock reaction. There's not a lot of conviction and some people will take profits. But I think there will continue to be a moderately upwards bias for the remainder of the year.

Profit news continues to be good, and we are seeing some relief from the profit taking of the last few read more

Profit news continues to be good, and we are seeing some relief from the profit taking of the last few weeks. But there is an ongoing tug-of-war between 'we've come too far too fast,' and 'the economic recovery is strong' and you're seeing that played out on a day-to-day basis.