Good morning. Futures are a little lower sp -6pts, we're set to open at 2053. Metals are a touch higher, Gold +$1. Energy is mixed, Nat' gas +1.0%, whilst Oil -1.8% in the $62s. An equity retrace still seems very likely, but... the FOMC clock is ticking.
sp'daily3 - fib retrace
So.... what about today? Clearly, yesterdays' latter day bounce will have calmed the concerns of those who are still seeking the sp'2100s before year end.
As it is, I still think there is a very viable window of opportunity for the bears to knock the market lower by 2-3% by the FOMC of next Wednesday.
What many do seem agreed on... the FOMC will make for another floor... and excuse for the market to launch higher into the new year.
Notable strength: airlines.. UAL +3.0%
Weakness, oil/gas drillers, SDRL -3.0%
Video update from Mr C.
The end part on the USD is interesting, although I'm more interested in the implications for next year, not least in increase capital flows into the US from EU/Asia.
Doomer chat with Hunter and guest... Brown
No doubt bail-ins are coming at the next crisis, but will the US Govt. really let any of the major banks/institutions go under? Regardless... for anyone with cash in the banking system..when the next crisis hits... expect at least some of your funds to be forcibly taken away from you!
On that note of state theft, have a good day.