Consumer Sentiment will be released Friday morning.
Consumers are wary these days, and although Halo 3 may have bumped up Microsoft's earnings for Q3, Ford and the UAW just agreed that a reduction in the workforce is needed. Consumers aren't buying houses right now and the demand for used autos is at a peak low (confirmed by a special TM client - a shout out to you GG.)
Like I wrote the other day, I'll pay $500 for an iPhone or an Xbox 360 - but I am not making any bigger purchases. A lot of volatility out there, great for trading, still looking for the emini S&P futures to trade lower.
The Consumer Confidence Report (different than Consumer Sentiment above) is coming out Tuesday followed by the FOMC Meeting later that day - amazing how the two coincide.
BIG trading days coming - lets Take the Trade.
Pivot Levels for Friday, Oct 26th:
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