Stocks finishing near session highs some green on your screen as we've seen some

yield reprieve in the Treasury market. The action is just getting started

though welcome to Closing Bell overtime.

I'm Morgan Brennan.

John Ford is off today.

Coming up this hour, market watcher and technical analyst

Jeff DeGraff is making a big call on the market's next move.

He's going to join us to break that down.

Plus, we'll talk to the head of the Mortgage Bankers Association as mortgage demand falls to its lowest level

since the Clinton administration. And as mortgage rates approach 8%.

We begin with the market though as stocks gained some ground back following Tuesday's

route.

A pullback in yields at a drop in oil prices helping support sentiment today

but the S&P 500 is still tracking for its fifth negative week in a row.

Let's bring in senior markets commentator Mike Santoli. Mike you know ahead of

trading today I had seen a number of notes a number of

a trader commentary about comparisons to dare I say 1987 in terms of what we've

been seeing in the market as of late your take in a main feature and precursor of what happened in 1987 and then when it came to the

stock market it had been a massive up year into about August of that year. I think the

S&P was up like 40% year to date to that point it got got very overbought in the summer. You had to pull

back a down trend and the dollar turned into an uptrend. So a lot of those things that

would feed together at least cause people to believe that you could still have a little more of an

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