I think you're locked in a trading range. The good news is, the consensus for now seems to be that if the Fed's done -- if it's not done, it's very close to being done -- so that relieves the interest rate pressures from the market. And you've ended the negative pre-announcement season. You're going into the regular announcement season, and earnings should be pretty good. And that should support the market,

James Awad

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The momentum will change. Technology stocks are due for a correction, without bringing down the market.

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But throw in a very visible company lowering its guidance going forward and the focus shifts back to the same problems of an uncertain economy, uncertain earnings and the Middle East problem, which has not changed,

The basic factors that caused the market to go down remain in place, and I think those worries are going to be with us for the next couple of months, ... certainly until we get third-quarter earnings reports, and maybe through the election.

You clearly have to keep watching this inflation issue. You do have to have some concern that, based on history, the current amount of economic growth should lead to inflation. But if you talk to companies, it's not happening.

You have to have a powerful earnings turn around this year to justify gains from current levels,