US stocks dropped after a report saying that Lawrence Summers would be replacing Ben Bernanke as Summers is more hawkish & might cutback QE even faster
Later, White House said that the report was wrong & the decision has not been made
Economic news were mostly worse than estimates & we expect consumer confidence to be lower too
On the other hand, worse economic news means QE tapering will be delayed which is good for stocks
Investors are also less fearful about QE tapering, 57% say that they don't expect a sudden change in the market as Ben Bernanke's plan to reduce impact of actual QE tapering by warning investors ahead has worked
But there's still the problem of US not having enough money to pay its bills & US government shutdown is at risk
So the market might be mixed & we should trade less today
Overall, the market wants to go up but statistics say that it should go down
Look to sell S&P 500 around 1690 if it can't break & stay above
It might try to reach 1690 again but should fail to stay above it
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