Good morning. It is 60 degrees and hazy here in Upstate NY. The forecast is predicting a rather hot day. It's been a little more like Summer lately so maybe we'll get some more strong heat. If you get a chance please watch the clip I've posted titled 'Lily'. This is a very compelling three minute documentary on a young woman from Jamestown NY. She possibly is in her late teens or early 20s. Through no fault of her own she is now living in a car, plus she is handicapped but her attitude is amazing. I mean it caught me in my tracks seeing her resiliency. I would take in a person like this in an instant, take a room in the house, settle in, have some food, don't worry take your time, figure out what to do next with a little support behind you.
At 8:00 a.m. ET futures are flat and the price of oil per barrel is down. The market is poised to open in the mixed to lower area.
Take a breath because the potential for today going south real bad this afternoon is very high. The Fed will release notes on monetary policy at 2 p.m. ET and if the smell of quantitative easing abatement is in there, the market is dropping. All the bad elements are in place, the Summer doldrums, low volume with many traders on vacation, and the threat of quantitative easing stopping. On the positive side, well, maybe there's a miracle in there somewhere.
CNN:
Stocks: Waiting on the Fed
The minutes are slated to come out at 2 p.m. ET...
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