Market Lab Report - Premarket Pulse 10/8/15
The market is at a tipping point as the recent follow through day was followed by a distribution day on the NASDAQ Composite two days after the follow through. This usually means a failed rally attempt even should the S&P 500 break above its 50-day moving average. That said, keep statistics in perspective as the world is still mired in quantitative easing which can distort historical "sure bets".
Futures are down around 0.5% at the time of this writing on further economic concerns out of China. China's market had an extended holiday, and yesterday's up day on the Shanghai after its long break was insufficiently strong. Context is always important.
The Fed releases minutes at 2pm EST today.
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