Before the Open

We get the employment report today.  This could be quite important…but it will quickly become moot if the situation in the Middle East continues to deteriorate in a significant way.  (It’s crazy but EITHER a “melt-up” OR a “melt-down” are still both possible.)

Is the fact that the markets are holding up so well a bullish development...or a sign of too much complacency?

After a mild pullback over the past month, one defensive sector is starting to look very attractive once again.

One of the most bullish items an investor can see is when a stock, group, or market…can rally in the face of negative news.  That is certainly the case today…as the market seems to be unfazed by the situation in the Middle East and the dockworkers’ strike.

The KBE bank ETF is testing a key level…so whichever way it moves as the 4th quarter begins should be important for the group…and the entire stock market.