paul hickey has the breakdown and craig collins on salesforce.o yesterday's rally above and below the flat line in all of the major indexes of the s&p almost flat at the moment. paul, we've been in this tricky spot at the moment where you have this pretty strong rally off an october low that's a pretty common way for bear markets to end. on the other hand, the start of the market looks a lot like another bear market rally. so how do you sift through the evidence to figure out which one this is? >> yeah, so good afternoon, mike like you've been highlighting a lot over the past couple of months, the market has been trying to, you know, stabilize, doing a whole lot of nothing actually if you look at it over the last six months, but what we've seen, ever since mid-october when the market made new lows, what was encouraging to us is the fact that the list of new individual stock lows was shrinking compared to what we saw in june, and throughout that period, it's continued to shrink we've routinely seen more highs than new lows. internal and the fact t

they have less ground to make up to return to former levels joining us this morning is paul hickey great to have you back before we get to the small caps, let's talk about the fact that we have a bunch of inflation indicators on deck starting tomorrow i wonder if those do come in cool what is the potential upside for tech? >> yeah. i think you have to look at tech in two timeframes. short-term i think there's a number of positive catalysts that could be working in their favor. there is not a day that goes by nowadays where there is not an inflation indicator showing easing inflation pressures we're coming into the ppi tomorrow cpi next week. and then the fed on wednesday. just looking at cpi over the last -- the november report, which was released in december, that's come in weaker than expected more than any other month going back to 1998 you have a seasonal bias in favor of a weaker cpi, plus the fact we were just talking about all signs -- pricing pressures are easing so, that sets up the scenario where the fed can talk a little bit more dovish next week or not be as hawkic and spook

final word paul hickey you share the optimism on the market it sounds like? >> yes the market is giving a better message but the kourncounter to neil's point we had such aggressive policy tightening in the last few months here and it takes time even as the chairman admitted yesterday it takes time to take effect 50 basis points seems like a step down and seems light compared to what the last four hikes were, but historically even that was a large move so we've seen an enormous amount of tightening in the system in the last six months. we're still going to feel that going forward in the next few months here. >> by the way, i wanted to mention what's happening with bonds today, very strong bonds right now, the ten year yield 3.42, two year, 4.25 seeing the yields come down. the dollar is also strong today the pound is weak, neil and paul leave it there great discussion thank you both for joining me. >> thank you. >>> a check at where we stand in the stock market low of the day, we're down about 755. on the s&p every sector is down. communication services and te