[expat_panama]

A Happy Trading Morning to everyone!   Our heat map shows metals futures soaring +0.53%, and while it's also got stocks down a percent this other futures page shows a lot of upward pressure.  All this comes w/ flat trading continuing in metals while yesterdays stocks closed sharply down bringing up the distribution count to 9 NASDAQ and 8 S&P500.  It sure seems that another such day would officially put us into "correction".

Reports:

8:30 AM Initial Claims
8:30 AM Continuing Claims
8:30 AM Export Prices ex-ag.
8:30 AM Import Prices ex-oil
10:30 AM Natural Gas Inventories
2:00 PM Treasury Budget

Ya got to love these headlines:

• Swiss Central Bank Keeps Rates in Negative Zone
• Oil up after US storage slips, global glut concerns remain
• As Fed tightening looms, big share repurchasers could be pressured
• Study: US middle-class families are no longer in the majority
• A Lack of Growth, Not Inequality, Is the Real Problem
• Rate Hike Flies In Face of a Bad Job Market
• The Arguments Against A Rate Hike Pile Up

[citizen]

Several of your headlines argue for no rate increase....maybe they all do.
-Swiss Central Bank Keeps Rates in Negative Zone
-A Lack of Growth, Not Inequality, Is the Real Problem
-Rate Hike Flies In Face of a Bad Job Market
-The Arguments Against A Rate Hike Pile Up

I saw a headline somewhere about the case for no rate increase being compelling and is getting more so.

I know I’m tired of it. I thinking maybe I’ll give it a rest during the holidays and check back in a month or so.