John Hughs Reports Quotations

Everything came down to key support levels late last week and so I think you're seeing a bounce off that, ... You've also got some economic reports that are being perceived favorably, plus McDonald's earnings.

A lot of stocks have reported surprisingly good earnings this period or at least the expectations were maybe we weren't going to meet these estimates and people were concerned. But they have been performing a little bit better of late. Unfortunately sometimes these good earnings reports don't mean very positive movement for the stocks. Sometimes the stocks have run up in anticipation. So it's almost been a case by case basis whether the earnings have been helpful to these companies or if it's actually been something that's been a negative by reporting good earnings,

It's going to start bad but the key is how the market finishes. You've haven't really had any good earnings reports just yet and after the big run-up, you're going to have a lot of people questioning whether or not there is valid, fundamental support for that run.