daytrades october 29 morning ...

Happy Mufti Day Traders,

DOW Snapshot from previous trading session

"Stocks ended in slightly positive territory Tuesday after seesawing throughout the session, as investors weighed readings on consumer confidence and housing against a slew of earnings reports.

Stocks climbed to six-month highs Monday, propelled higher by a stronger-than-expected report on existing home sales. But with so much uncertainty underlying the daily economic and corporate reports, volatility will continue to dominate.

"Stocks pared earlier losses and ended virtually unchanged Thursday, as investors remained cautious ahead of next week's Federal Reserve meeting.

Starting the session with strong gains, stocks were fueled by optimism from corporate earnings and a report showing fewer people filing for first-time unemployment. However, skittishness prevailed and stocks seesawed throughout the session.

"We're going to have a lot of choppiness in the market until we get some clarity from the Fed's plan next week," said Peter Tuz, president at Chase Investment Counsel.

Stocks also ended the session mixed Wednesday as investors lowered their expectations for an aggressive move by the Federal Reserve to stimulate the economy. Speculation over just how big of a move the Fed is going to make will continue to drive market activity through next week's Fed meeting, according to analysts. "It's really all about the Fed next week -- and to a lesser extent elections," said Frank Longman, a market technician with Brean Murray, Carret & Co.

Stocks will likely remain on a roller coaster leading up to and possibly after the Fed announcement on Nov. 3." [Source:cnnmoney.com]

The DJIA Index finished the trading session Down 12.33; and
The SPI Futures are currently: Down 6 pts atm.

Of note in the US this evening:

GDP [Market moving indicator]

Reuters/Michigan Consumer Sentiment Index (Oct) [High volatility expected]

Employment Cost Index [Merits extra attention]

Real Personal Consumption Expenditures (QoQ) (Q3) [Moderate volatility expected]

...AND...

Of note in Australia today:

HIA New Home Sales (MoM) (Sep) [Moderate volatility expected]
[HIA New Home Sales released by the Housing Industry Association presents the number of new home sales in Australia. It indicates the housing market condition. House buyers spend money on furnishing and financing their homes, which stimulates the demand for goods, services, and the employees. Thus, a high reading is seen as bullish (or positive) for the AUD, whereas a low reading is seen as bearish (or negative).]

Private Sector Credit (MoM) (YoY) (Sep) [Moderate volatility expected]
[The Private Sector Credit released by the Reserve Bank of Australia is an amount of money that the Australian private sector borrows. It shows if the private sector can afford large expenses, which can fuel economic growth. It is considered as an indicator of business conditions and the overall economic condition in Australia. Generally, a high reading is seen as positive (or Bullish) for the AUD, whereas a low reading is seen as negative.]

Gold is currently trading Down $0.50 & is sitting at US$1,343.60/oz atm [Source: Kitco]
Oil is currently trading Up $0.27 & is sitting at US$81.91/oz atm [Source: Bloomberg]
The Dollar: The AUD/US is currently trading @ 0.9782 cents [Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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