daytrades november 2 morning ...

Happy 'Melbourne Cup' Day Traders ... ... may you ALL be on winning posts today! (:

DOW Snapshot from previous trading session

"Stocks ended a choppy session little changed Monday as investors remained jittery ahead of the week's three big events -- the midterm elections, the Federal Reserve meeting and the October jobs report. Stronger-than-expected readings on U.S. and Chinese manufacturing growth sparked an early buying spree.

But gains were muffled as investors turned their focus back to the upcoming election and the Fed's policy statement on Wednesday.

Expectations of additional stimulus from the Federal Reserve and bets that Tuesday's congressional elections will favor the Republicans have buoyed markets since late August. But this is a pivotal week.

"All that really matters now is the Fed coming in with a boat-load of money," said Joseph Saluzzi, co-head of equity trading at Themis Trading. "The only reason the market has been going higher for the past two months is because of these expectations of Fed money-pumping." " [Source: cnnmoney.com]

The DJIA Index finished the trading session Up 6.13; and
The SPI Futures are currently: Down 17 pts atm.

Of note in the US this evening:

Motor Vehicle Sales [Merits extra attention]

...AND...

Of note in Australia today:

RBA Interest Rate Decision [High volatility expected]
[RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.]

AiG Performance of Services Index (Oct) [Moderate volatility expected]
[AiG Performance of Services Index released by the Australian Industry Group presents business conditions in the Australian service sector. The group surveys 200 manufacturers on their assessment of the business situation including employment, production, orders, prices, and inventories, and their short-term planning. A result above 50 is seen as positive (or bullish) for the AUD, whereas a result below 50 is seen as negative (or bearish).]

Gold is currently trading Up $1.20 & is sitting at US$1,352.50/oz atm [Source: Kitco]
Oil is currently trading Up $0.19 & is sitting at US$83.14/oz atm [Source: Bloomberg]
The Dollar: The AUD/US is currently trading @ 0.9873 cents [Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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