Macro Morning: Eerie calm

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by Chris Becker

Another eerie night on Wall Street with the S&P500 inching up 1 point with only the NASDAQ slipping, with prices barely moving now for over 5 sessions as the industrial production print for October coming in slightly under expectations:

Chart SP500, D1, 2014.11.17 21:18 UTC, VantageFX Pty Ltd., MetaTrader 4, Real

As I mentioned yesterday this sort of base construction almost always resolves itself in a large breakout either side usually with a news or event catalyst. Japan going into technical recession yesterday could have done it or the end of QE3 should have done it, but risk remains steady here.

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