SPX has risen back to the 50-da Moving Average for the 5th time. I don’t like this action, but it seems that the market is waiting for the release of the FOMC Minutes at 2:00 pm.

Reuters reports, “U.S. stocks fell on Thursday as investors await the minutes of the Federal Reserve's September meeting to get an insight into the central bank's decision to keep interest rates steady.

Healthcare stocks fell again while a decline in tech stocks added to the pressure. Apple's 2.1 percent drop weighed the most on the three major indexes.

A six-day rally in global stocks was checked as weak trade from Germany and factory data out of Japan added to worries about slowing global growth, a key reason the Fed did not raise rates last month.”

We may see some fireworks at that time.

Regards,

Tony

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