Macro Outlook
The Dow Jones Industrial Index is pushing toward the bottom of its rising channel. Will the herd find its next excuse to rally in the coming flood of econo-data?

This week we are looking for the Commerce Department's monthly report on business inventories (probably up, which is not good). Or perhaps the weekly oil inventory report (also up, which is good, but also not likely to last).

Maybe it will come from the Fed. Watching the wags attempt to spin the minutes from the last FOMC meeting usually make for a pretty good circus act. But Thursday will see the latest Beige book, which will in all probability be quite ugly.

Friday offers up the cherry on top. The Commerce Department's retail sales report and University of Michigan's preliminary Consumer Sentiment report for October.

These are the stimulants. Tonight, we will look at the chart set-ups.

Material Profits
To cut or not to cut…

OPEC wants oil prices to rise, without a cut in production. Oil production is the bread and butter of OPEC countries. It literally feeds populations.

But Venezuela's been begging the cartel leaders to slash quotas for a couple years now. Chavez got tired of waiting, and went ahead and cut his production anyway.

So will the cartel follow? That's a great question. I'll answer tonight.

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