Week In Review – October 19


  • Spain sovereign spread starting to widen as small to medium Spanish banks hammered over mortgage tax
  • Brazilian assets continue to perform as the election of Jair Bolsonaro is a done deal, slated for next weekend
  • Mexican peso weaker.   Reports AMLO to scrap NAFTA 2.0 negotiating team could be causing uncertainty
  • S&P500 closed right at its 200-day moving average and couldn’t hold a bid last week
  • Crude down 3 percent

Commentary:  Sloppy trading until the U.S. midterm.  Earnings galore this week.  Could see some buying, but earnings growth to reset next year as effect of tax cut will end.   The October algo — selling ‘bots and traders come in,  probe market for bid,  if no sellers, cover,  repeat  — still the program.


S&P:  2736 and 2710 support, and 2816 resistance



Heavy turnout:  our political earthquake may be playing out 



China In Current Account Deficit –  Less Foreign Savings For Global Market



Annus horribilis for country ETFs 


Baseball Royalty Prepares For Fall Classic.  Can You Name Them?






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