Pisani: Why Market Bears Ruled Tuesday
By: Bears had the upper hand today.
Bears:
-- oil prices at highs, not backing down
--dollar rally evaporating
-- inflation trends clearer (core PPI stronger than expected validating pass-through from commodity inflation)
--retail & financials turnaround less certain
--visibility poor
--volume trends poor
But bulls were not silent.
Bulls:
Bears had upper hand Tuesday, as oil hit new highs, not backing down;
dollar rally evaporating;
inflation trends clearer (core PPI stronger than expected).
