Market Update

I was just about to write my update, and Mr. Reid and Co. appeared on TV. Now my update is a bit different. I am NOT amazed at how partisan our politicians are just 8 days away from the deadline. I am so sure they will take it to 11th hour, nonetheless there will be a deal at the end.
I am impressed with the way market behaved from the open. Any attempt to sell it down was met with more buying. There is some money which is still being put to work I guess.

$SPX futures $ES_F has ran into selling @ DP. It closed the gap and now it has no business to be up here. Look for weakness into the last hour, and more after the close if Boehner's tone is the same like Reid's. I heard the word "default" mentioned more often than any other word in Dems' presser. How enlightening folks!

Oil futures $CL_F sideways in a $1.25 range. $100 is a brick wall so far. It is following the uncertainty as best as it can. Equities are the key for direction on oil.

Gold futures $GC_F sideways after runup last night. Not really doing much since then, due to no deal. Prior high @ 1610 is serving as a solid support at the moment.

Forex is going nowhere fast as well, except for CHF. The king of risk-off is ruling today. It is up by a lot against all other currencies.

Keep your size small. Stay tuned to Washington circus developments.