Oct 192016
Chinese GDP came in line with expectations but industrial production numbers were weak, casting a bearish sentiment on stocks. The Saudi oil minister stated that Non-OPEC nations are providing strong signals they’ll cooperate with OPEC to stabilize oil prices. Corporate earnings are very much in focus with HAL, MS, and USB reporting pre-market. ES Globex action has been mixed, rotating around it’s 2132 settlement price. US Housing Starts and Building Permits are on deck for 8:30am EST and Crude Oil Inventories back on it’s normal day and time @ 10:30am EST. Volatility continues to shrink; traders are waiting on a reason to move the markets. Size bias is short into the 8:30am EST numbers on light volume.
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