Good morning everyone. After the presidential debate lat night the futures popped up over 100 points but I guess sometime during the night the market realized that nothing really changed so they begin to normalize and it looks like we can expect just a slightly higher open.
Oil is lower this morning by more than $1 a barrel which could make it tough for the markets to really gain much ground. There are a couple economic reports this morning but I think it’s unlikely they will move the market…However, we have Fed member speaking today and as you know they can create big moves if his speech is is perceived as dovish or hawkish.
The disappointing thing is our market seems to be completely dependent on the news cycle right now. As you know the biggest moves are occurring during the pre-market and after that it just can’t seem to gather enough energy to anything other than chop. It makes for some tough trading indeed. If your a bit frustrated, you are not alone!
Trade Wisely,
Doug
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