Market Lab Report - Premarket Pulse 9/24/15
|Published:||24 Sep 2015 13:13 ET|
Major averages finished roughly flat yesterday on significantly lower, below average volume, due in part to the Yom Kippur Jewish holiday. The action essentially consolidated Tuesday's higher-volume gap-down, setting up this morning's gap-down in the futures. The market's sloppy ascent from its lows in late August coupled with a good number of distribution days suggests a retest of lows may be in the cards. Indeed, futures are down nearly 1% at the time of this writing. Markets eagerly await Federal Reserve Chairperson Yellon's speech this evening at 5pm EST. CME FedWatch puts the odds of a rate hike in October at 11% and in December at 35%. As always, keep stops tight and take profits when you have them in context with the stock's chart.
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