The Market On Tuesday

  Good morning. It is 70 degrees, damp, and overcast here in the Upper Hudson Valley. The forecast has rain for the next 10 day period. We see that Trump released his tax plan for the USA yesterday. It looks to me like a formula for complete disaster with virtually everyone getting a tax cut especially the rich and corporations. I'm sure our crumbling infrastructure, what remains of any alleged safety net, education, and on and on would fall into further non existence under Trump. That's a plan alright.

  At 8:45 a.m. ET futures are moderately higher and the price of oil per barrel is up. The market is poised to open higher.

The same set of concerns hovers over the market - oil, China, and the eventual Fed base interest rate hike. Meanwhile the market is in a correction phase as the DOW is now below 16K. Look for more of the same.

CNN: 5 things to know before the open

Top worries include slowing growth in China, uncertainty over when the Federal Reserve will begin raising U.S. interest rates, depressed commodity prices and "continual concerns over the pace of economic recovery in both Japan and Europe..."

The latest Case-Shiller housing price index comes out at 9 a.m. ET, giving a snapshot of the health of the U.S. housing market.