The exclusive Markets Morning Report is supplied by The Precision Report.
The Precise Take – Nothing new
Big Picture Analysis: Yesterday ended up another low range day, with a paltry six handles covered overnight. It seems complacency has set in, and headline risk has all but evaporated for the time being. This can change on a dime, but bulls retain the short and intermediate term edge until proven otherwise. Seasonality on opex favors the bears early and bulls late. Existing Home Sales is released at 10:00 am EST, but is unlikely to be a market mover unless far out of consensus. Next week’s FOMC Announcement on Wednesday will come into focus Monday, as earnings season continues.
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