The Market On Wednesday

  Good morning. It is 66 degrees and sunny here in the Upper Hudson Valley. Rain is expected once again at some point today in the new American Hudson Rainforest. We had some serious lightning and thunder yesterday. One lightning strike had to have been within a half mile of my house as my ears where literally ringing after the strike, the thunder was so loud.

  At 8:40 a.m. ET DOW futures are moderately lower and the price of oil per barrel is up. The market is poised to open lower.

  I'm thinking we should probably call it what it is, let's not mince words, but the market is into some level of a correction. The DOW is already down around 1,000 points from it's serious new record high of just a few days ago last week. World events have rattled investor confidence. Ironically the US economy seems to be moving along with regular progress. We didn't do it this time although one suspects that we might be responsible in more subtle dark ways, uh oh, conspiracy conspiracy...Truth is, if there's a world calamity, the US is often lurking somewhere in the background. You know it as well as I.

CNN: Stocks: 5 things to know before the open

European markets were all declining in early trading. Germany's Dax index fell 1.3% on new evidence that the Ukraine crisis is hurting its economy.

...the Census Bureau is releasing details on the U.S. trade balance at 8:30 a.m. ET.