NYSE Euronext (NYX) CEO Niederauer Doesn't See Big Money Buyers Yet, Says We Will Retrace Gains

On CNBC, NYSE Euronext (NYSE: NYX) CEO Duncan Niederauer said the big money buyers aren't taking large bets�in this market yet, saying it is still strictly a traders market.

Niederauer said he thinks we may have to retrace a lot of the gains. He thinks once this happens we will have a sustainable summer rally led by the big money. Niederauer said big money buyers aren't convinced on fundamentals so they won't make long-term bets at this point.

The S&P 500 (NYSE: SPY) is up nearly 30% from the bottom and the Nasdaq (Nasdaq: QQQQ)�is up 32%.

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