Right now, I think the market needs a catalyst in order to get out of this difficult environment. Hopefully if oil prices continue to decline and move back into the mid $50s, that could turn sentiment more positive on Wall Street.
I think the results from AMD and Apple after the close should help boost sentiment toward technology stocks, which have been on a bit of a roll for a few weeks,
The technical trends of the market and the sentiment has improved over the last few weeks, plus there are seasonal factors working in the market's favor.
When all was said and done, the market showed its resilience once again, ... The market performed well despite today's extremely weak consumer sentiment number. Investors seem to be looking over a softer economy for the next few months towards a stronger economy to start 2006.