Tomorrow we have day 2 of the FOMC Meeting and Announcement, MBA Purchase Applications, EIA Petroleum Index, 7 Yr-Note Auction and earnings from and earnings from BA FB QCOM WYNN
Todays trade is exactly reason I do not want to be overly committed to either direction. So far this year the ESH has had 3 big down days / 2 big up days / 5 big down days / 4 big up days / and then down / up / down and down again today.
Todays weakness has been a combination of some disappointing results from Microsoft and Caterpillar and concerns about the dollars straight being a drag on earnings.
Lets face it the S&P is going into the 6th year of the bull market and is starting to show signs of stress. There is no way the S&P can continue on with positive earnings like it has with the oil companies down so hard and weak economic activity in Europe could be a real problem for the stock market in 2015. Strong dollar is also hurting multinationals…
Mutual funds mark stocks up at the end of Jan.
And increased volatility as we move forward…
High 2037.00 Early
Low 2013.00 Mid-morning
Last 2025.40 down 28 handles
Volume 1.8mil ESH and 4.1k SPH trade in the pit
MOC Mim was showing BUY $247 mil ACTUAL wax MOC BUY $377mil
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