Everybody expects people to come back from vacation and the activity to start. The first day is a very lackluster day and people are just getting used to stuff.

This perception creates a negative opinion on Wall Street. But over time, it will help the equity markets because it is reflexive of a better earnings picture.

It was unanimous we'd have a year-end rally until the yield curve inverted. We wanted to close the market on a high note this year, but now we're worried that the 2006 market will have to deal with this. The next Federal Reserve meeting will be extremely critical. We have to hope this isn't predictive of a recession or a slowing economy.

The 10-year bond looks like it's headed higher, so I think the feeling is starting to pervade Wall Street that economy's fine and interest rates are heading higher. But the market has (also) been choppy and struggling with some key technical levels.

The market has some power today. Continued lower energy prices and the belief that the economy is rebounding off a poor fourth quarter are assumed to be behind the move today.

It's a transition market. I think (last week) indicated the willingness to look forward at the upside of the story. There isn't a lone voice expressing positive attitudes toward technology but this week indicated the ability of the market to look forward.