Morning Call: September 30, 2013
51 views · Published 30 September 2013 · 19:05 · Indexed 20 September 2026
Channel: T3 Live · 2013 · Education
The market traded in a tight range Friday after a lower open as investors remain in wait-and-see mode after the Fed "no taper" decision and leading up to the potential government shutdown. Many are now saying the government shutdown may not be the worst thing in the world if it prevents a last-minute standoff regarding the more important debt ceiling, but it makes sense to be somewhat cautious this weekend given the recent market action. Every rally in the S&P as sold during the last few days. The index is resting at its 21-day moving average at 1688. Use Friday's low of 1687 as the new pivot to watch. A break below this could bring out more sellers and perhaps we could see the 50-day at 1680 before another attempt to rally. Among key economic events (ISM mfg index at 10.00 AM Tuesday, Jobless Claims 8.30 AM Thursday, Employment Situation 8.30 AM Friday),October 17th is the deadline for a debt ceiling bill.
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