Michael Sheldon Rally Quotations

The rally the past few days shows investors are willing to look past this period of uncertainty toward a pickup in growth in early 2006. It's a pretty optimistic viewpoint and that could change when the data comes in.

Today, the markets once again pushed to new highs for the indices but the rally appears to have stalled. The likely culprit is that higher bond yields may finally be weighing on the minds of investors.

We're really seeing almost a stealth rally today. Some of the most beaten-down groups of the last few days -- like airlines and retailers -- are seeing gains. But it's not just them. Five out of 10 S&P 500 groups are up at least 1 percent.

Despite the Democratic National Convention, the biggest story of the week has been energy prices. That's prevented the market from seeing a bigger rally off these oversold conditions.