8:40 AM
The pre-market is going up. There are a few good earnings such as Motorola, Amgen, Big Phamies. I expect the 4Q breaks out from here.
The dollar will be down, and US has successfully persuade China to increase the Yuan value. Now, it should be the text book play that all the commodities, oil, railway, dry shipping, farmers, and high tech shine; financial and retails sink.
Today, I think the market should be still in consolidation mode and waiting for the fed rate decision. 50 base points are in the expectation now, which is good for the fed to do the double play, a. support the financial credit crush; b. devalue the dollar.
10:30 AM
As expected, the new (today) and existing (yesterday) housing sale numbers are very bad. The durable goods number is not good either. So the fed cut is for certain. The financial stocks and home builders got lifted.
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