Same Old, Same Old!
Our market has been characterized of late by 2 significant trends. On the one hand, unidirectional upward movement, and on the other, volatility that can be described as nothing but suffocating. Even the bulls were happy to see a little red on their screens yesterday, if only for the sake of change. What’s really amazing, though, is how the market recorded so many highs this year while being simultaneously so energy deprived and lacking in enthusiasm.
It’s natural for the market to digest large movements in advance of a very potent catalyst, in our case the Q3 earnings season. A few days of mixed trading between now and the kickoff of the earnings season next week would certainly be nice, but correction buyers don’t have the patience to let a real price correction develop.
It was a losing day and slow at that. In short, nothing’s changed.
Tuesday’s Hot Stocks: AIG, CPB, ABBV, SCHW
Have a great trading day!
|Monday||Columbus Day – Markets Open|
|Tuesday||6:00||NFIB Small Business Optimism Index||105.4||Medium|
|Thursday||8:30||Jobless Claims||252 K||Medium|
|Friday||8:30||Consumer Price Index||0.6 %||High|
|Friday||8:30||Retail Sales||1.9 %||Medium|
|Friday||10:00||Business Inventories||0.6 %||Medium|
|DAL||Delta Air Lines, Inc.||AM||Wednesday|
|DPZ||Domino’s Pizza, Inc.||AM||Thursday|
|JPM||JPMorgan Chase & Co.||AM||Thursday|
|BAC||Bank of America Corporation||AM||Friday|
|WFC||Wells Fargo & Company||AM||Friday|
|JBHT||J.B. Hunt Transport Services, Inc.||AM||Friday|
Today’s Picks – Day Trading!
New York Strategy Swing