kaltbaum premarket

Greetings!

 

If you were affected by the storm, I wish you well…and that things get back to normal as soon as possible.

 

I am surprised futures are not up more because Europe and Asia have been strong since the weekend. I have S&P futures up half percent…but NDX futures about flat because AAPL down almost $7. AAPL disposed of their software and retail guys because of Iphone 5 problems.

 

Today is end of month…and then November where supposedly there is seasonal strength. Of course, there is next week’s election.

 

Nevertheless, the market has been under pressure but near term, I think it was trying to carve out a low…especially with the nasdaq and ndx at the 200 day. So…I am expecting some near-term upside but keep in mind, there has been a decent amount of technical damage…especially in growth land.

 

Also…many companies that were supposed to report past couple of days will report randomly over the next few days. We will be looking for the numbers but more importantly, the reactions.

 

Just spectators today as I think trading may stay light. Do not forget that foreign markets are now trading better than U.S. markets…and will look to play off of that as we go forward. You see what printing of money will do. It all started when Europe and Japan announced their own QE.