It was disappointing to see the market close on the lows today. Often though that sets the market up for a bounce open the following day. Whether that happens on Tuesday depends to some degree on the Presidential debate outcome this evening. It also depends to a larger degree on Deutsche Bank.
While the German government claims they will not bail out Deutsche Bank it seems odd that they are already discussing NOT bailing out a Bank that just months ago they and bank officials claimed was not facing any issues of any consequence. For a lot of investors today, this smacks of Lehman Brothere back in September 2008 which commenced a free-fall in stocks.
With that typoe of concern it was not unusual today to see investors pulling back from buying stocks but the close below 2150 could be setting the market up for a move back to 2120 from just two weeks ago.
Presidential Debate
I will be watching the Presidential Debate this evening and posting after the debate ends.
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