E Market Briefing For Tuesday, Oct.27

Jarring metrics combined to impact economic and market expectations, by a crowd that had been in-denial (they might as well have been in Egypt's river .. just kidding) or hoping more progress would occur sooner. That sure applies to political wrangling about 'Stimulus', which continues to run-into roadblocks.

It is also forthrightly about the Election, since the market is more comfortable, as it has been for months, with the prospect of a Trump re-election favored. At the same time nobody wants to take-on a lot of risk in the run-up to Elections, and remember Octobers tend to be jumpy ahead of Election, though this one is 'special', to say the least. We warned technically last week of not much of a bump before we went lower at least temporarily. Now a Tuesday turnaround? 

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