We've had colder weather across the country, so we're back on the energy watch, and that's certainly going to have an effect on stocks.

[Because Rita could wipe out more refinery capacity while the United States is still catching its breath from Katrina,] the market is going to keep a keen eye on energy prices, ... It's a very big deal.

I think that's on the heels of the latest tropical storm going through the Caribbean that may have an impact on supply.

A lot of investors are in a wait-and-see mode until we get the Fed behind us next Tuesday.

The market has been responding well in terms of energy prices coming down, but those are very volatile numbers week over week. Any major swing from the consensus figure can add a lot of volatility.

If you look at Fed funds futures for December, they are indicating that the Fed will take a breather at one of the remaining meetings this year. It's been one of the positives in the last week as it runs through investors' psyches.

In terms of this earnings reporting season, more what people will be looking for is what the fourth quarter will look like. Nine out of the last 10 times, the fourth quarter has been higher, so we'll be playing close attention to any kind of guidance we get.

That's the one thing that can upset this apple cart. We would focus more on energy prices if we got something that was out of line with consensus.

It is absolutely sideways action. I don't think anyone wants to do anything one way or another.