We're doing a little better then the U.S. indices, which is nice to see. I wouldn't view this market as highly directional today, though.
The potential for additional gains for stocks is limited given that we've had such a good run-up. We've been telling people to pare back a bit and reduce equity holdings.
Technology is now out of favor. People are rapidly concluding there is not a quick fix in store.
This market needs a dose of good earnings expectations. It wants to hear, from companies, that prospects are improving because the fourth quarter is water under the bridge.