Good Morning. I have a fairly long post including COT data so I wanted to get this post out early. I’m also likely going to switch around a few posts going forward.
Friday Market Recaps will likely be replaced with the Weekly Video as they discuss market specifics including model levels and therefore I believe are more appropriate at that time. As a result the COT report will likely be published in the Monday Morning Brief which comes out Sunday afternoon giving readers ample time to read prior to the market open. Please post comments below if you are in favor or against or have another idea.
As for this week we have a lot of data including Q3 GDP advance, durable goods and a two-day FOMC meeting. It’s been a very long time that a two-day meeting has not been discussed much in advance. I’m not sure what could possibly come out of this meeting other than a possible change in language regarding when rates will be raised. But with the unknown now known, markets seem less motivated to buy stocks based on Fed policy.