Futures were showing a lower open late Sunday night when we were wrapping up our weekend chart work after another failed attempt by the zombies to strike a deal. They didn’t change much ahead of Wall Street’s open on Monday so we knew there was a good chance the bottom could be set at the opening bell despite another day of a government shutdown that has lasted for over 2 weeks.
The talking heads did there best to add to the panic as they interviewed zombie after zombie ahead of the bell but the bulls ignored the chatter to hold support. By midday, the market was seeing some green as another round of rumors hinted the President was ready to negotiate but that meeting was postponed to give more time to make sure whatever deal comes to the table, he likes. (continued…)