Tom Schrader
Tom Schrader
anxiety certainly creating oil
Oil is certainly creating some anxiety in the market.
market negative tone
The market has a negative tone to it right now,
activity earnings economic extension japan last led money morning natural news people seems selling staggering table taking terrorist turkey until week weekend
It seems to be some natural selling, an extension of last week ... Terrorist activity over the weekend in Turkey led to selling in Japan and selling here; the earnings this morning were mixed, and you have no staggering economic news until Thursday, so people are taking some money off the table right now.
capture earnings humanistic level reacting usual
While the capture is important on a humanistic level for the market, after reacting to it overnight, we're back to the usual focus: earnings and the economy.
based basically gains seen since
We've kind of stalled here. Basically we've seen some profit-taking based on the gains we've had since mid-October.
chicago consumer numbers sentiment
We've got some weighty numbers tomorrow, with consumer sentiment and Chicago PMI due.
dearth economic information news suffering until
We're suffering from a dearth of information -- there's no economic news until Thursday.
higher trying work
We're off our highs, but we're trying to work it back higher again.
breadth catalyst move oil primarily volume
We're primarily up because we're oversold and oil is down. The breadth is decent, but the volume is low. There's just not much of a catalyst to move us.
beyond count durable economic goods lack land market news oil orders price reported starting tomorrow
We're starting to get into that no man's land of lack of earnings, with most of the S&P 500 having reported already. We'll have durable goods orders tomorrow and beyond that, the market is going to have to count on the economic news and the price of oil for drivers.
convention due fact nice oil passed primarily relief
We had a very nice rally, primarily due to the fact that we had oil down, and there was some relief that the convention passed without incident.
ahead data drift expect friday payroll swing
The payroll data Friday is going to be the big swing factor. Ahead of that, I would expect that we could drift a little higher, but nothing too substantial.
number session violent
The payrolls number is probably going to be in line, and we'll see another session of listless trading. But if it is something dramatic, we could see a violent reaction, one way or the other.