Good morning! The Halloween candy may already be gone but for investors it's gotten more scary than before. We've punched down below support to a 4-month low in higher volume, the IBD still calls it "Uptrend under pressure" but the distribution day count now stands at 8 for both the Nasdaq and the S&P.
Futures traders are downbeat for today's action, down -0.09% this morning on stock indexes but they're also -0.26 for metals even tho gold and silver are now up to $1,295.78 and $18.54.
How about this:
FOMC Day Today is FOMC Day. Will the markets finally decide on market direction? Read on to learn more...
--and that's for not until this afternoon. Meanwhile we got:
7:00 AM MBA Mortgage Index
8:15 AM ADP Employment Change
10:30 AM Crude Inventories
2:00 PM FOMC Rate Decision
--and all this stuff:
With So Much Good News, Why Am I Cautious? - Byron Wien, Blackstone
Models Informing Central Bankers Are Mostly Bunk - Judy Shelton, TWS
Don't Believe the Earnings Recovery - Anthony Mirhaydari, The Fiscal Times
Market Fear Factor Rises as Election Tightens - Wallace Witkowski, MW
Most of What You Think About Investing Is Wrong - Lawrence Hamtil, FF
How Blockchain Could Prevent Rigged Vote - Brian Kelly,RealClearMarkets
Trump Could Live Tax Free Until He Dies - David Cay Johnston, Daily Beast
The Agony of Obamacare Collapse Has Just Begun - Michael Tanner, Cato
Good News: 35% of Federal Gov't Workers May Quit - Editorial, Investor's [FR thread here]
Surge of Competition-Busting Mergers - Steven Davidoff, New York Times
How U.S. Trade Deals Sell Out American Workers - Sherrod Brown, USAT
Higher Walls Alone Will Not Fix Immigration - Kristie De Pena, RCPolicy