The Dow Jones Industrial Average (INDEXDJX:.DJI) closed south of the 15,000 level on Monday -- this is a marker to watch, reiterates Schaeffer's Senior Options Strategist Tony Venosa, CMT. "This level may be important in the coming days, as it also coincides with the index's 160-day moving average, which has been a source of support this year." Ahead of the bell, the blue-chip index is sticking close to breakeven, as investors continue to watch the budget gridlock in Washington, D.C.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are roughly 2 points south of breakeven.
The Chicago Board Options Exchange (CBOE) saw 900,560 call contracts traded on Monday, compared to 543,556 put contracts. The resultant single-session put/call ratio edged higher to 0.60, while the 21-day moving average rose to 0.61.
From the Trading Floor
"A lack of progress on the debt-ceiling issue sent markets deep into the red on Monday, as most major sectors closed negatively," said Venosa. "Gold and solar names were the standouts, though, as both finished strongly in the green."
Currencies and Commodities
Earnings and Economic Data
Slated for release is the National Federation of Independent Business (NFIB) Small Business Optimism Index. The U.S. trade figures will likely be delayed due to the government shutdown. Alcoa (NYSE:AA) will unofficially kick off earnings season, with YUM! Brands (NYSE:YUM) also stepping up to the earnings plate.
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