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U. S. Equity strategy at jpmorgan to talk about where the market goes. The coolest on wall street. Reminds me of dubrovnik. Melissa ran through the two month charts which look very impressive. You look at the dow over the last year and the s p over the last year, it feels like we have careened higher and now were back to this level that we keep fighting up against, whether it is the 21,000 leave, the 18,000 level or 2100 level. Where do we go to from here . So market had impressive rallies since february lows. Up 13 , 14 . I would say probably most of this has been driven by short covering. Technicals i think for most part at this point have run their course. Investor positioning adjusted, equity multiple is pretty much at the highs around 72. 5, so i think in order to turn more constructive from these levels on, you need some form of fundamental catalyst and some form of earnings and reacceleration. To me that pretty much means we need more dollar weakness. If we dont get that, i just ....
Closing bell is coming up next, everybody. See you tomorrow. Hi, everybody. We enter the final stretch. Welcome to the closing bell. Im Maria Bartiromo at the new york stock exchange. Hi, bill. How you doing, maria . Im bill griffith. Did facebook overpromise and underdeliver . Now what we know what its big mystery announcement is, investors unimpressed. Stock down on record volume today. This may be the day apple closes behind 500. It will be the first time thats happened in 11 months. Herb greenberg is here on why he thinks he could get worse for apple. And the always colorful senator alan simpson is with us, no bigger advocate of getting americas debt and deficit under control, but does he think the debt ceiling is the leverage that republicans should use to get that done . Hell join us exclusively, and i know youre going to ask him about that. Absolutely. Lets check out the action on the street right here. Heres how things ar ....