Good morning everyone.
During the evening we had some good number out of Asian markets that popped the Dow futures up about 60 points but as we get closer to the open the futures are sliding back toward a flat open.
Today we have several economic numbers before the open with the biggest being the ISM number that won’t be released until 10 AM eastern. Although we have a lot of earnings today it’s unlikely we will see much movement from the reports. The FOMC meeting begins today and as we all know the market tends to trade lightly in a tight range as it waits for the announcement. The Employment Situation number on Friday is another report that normally keeps the market subdued until it’s release.
Last but not least is the election just 7 days away making the market very apprehensive particularly due to the Clinton email scandal bubbling to the surface once again.
Once again I will most likely sit on hands while all this uncertainty unfolds. I understand how hard it is to simply continue to wait but when we have no edge it’s the best thing we can do to protect our capital.
Trade Wisely,
Doug
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