Slow-paced market behavior - on my first day back from a lightning 'trip in vain' to New York (as Delta termed it)...and action is calm as anticipated both during the Jewish holidays and ahead of the baited-breath FOMC meeting.

Freepik

In fact there was one important development in stocks Monday, indeed got a new (initial) client order from a multi-billion dollar semiconductor manufacturer for FOX-XP systems from AEHR Test Systems. AEHR shares jumped right to the 50 area and held the vicinity all day. I looked for ideally news before their earnings report and conference call (October 3rd or so), and now we have it.

More important is that while they won't disclose the customer, a cursory look at the slide Presentation changes CEO Erickson showed in Italy, infer it might be one of these: ST Micro, WolfSpeed or Global Foundries. Hard to say but any would be fine, and all will have more demands in the future, while one or two are also focused on GAN and photonics in addition to Silicon Carbide.

Market X-Ray - believes the Fed should not do anything other than pause on Wednesday, and possibly there will be a market rally, but possbily sold into.

A lot may depend on Oil prices, and the story I mentioned in the pre-close video is a bit interesting in-theory, so I will include that comment above too. If China is building their own strategic petroleum reserve, that can be viewed as a pre-war preparation, as nobody would wisely chase this high Oil prices..well maybe aside a few politicians. The time to restock was near 70 not over 90.

Bottom-line: 

The quiescent activity prevailing ahead of the FOMC was clearly logical after the first religious holiday, and might persist aside the little detail of an FOMC Meeting coming right up. We'll see if the Fed realizes they're harm at this point, or not.

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