26 October 2015

SP 500 and NDX Futures Daily Charts - Chilly Today, Apple Tomorrow - FOMC Rate Decision on Wednesday

Stock were largely unchanged after a fluttering day on very light volumes.

No major central bank announced a new stimulus initiative today, so stocks will have to wait for the Apple results tomorrow for an excuse to do something perhaps.

New housing sales came in very light for September.

Perhaps the trend towards higher prices against stagnant wages for most potential homebuyers has something to do with that.

Notice how nicely the bubble in median housing prices tracks the expansion of the Fed's balance sheet.

If only that stimulus was directed at median wages.  But that would empower the 99%.

Have a pleasant evening.