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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