R.C. Market Report 10.01

• Market Trend: Downtrend

• SPY is showing just a 7 cent gain on near identical volume as yesterday's. We had choppy trading today but nothing dramatic. It looks as though we are in a wait-and-see mode as the Senate votes on the "relief" plan starting at 4pm tonight. Tomorrow, there should be an announcement on the short ban rule. It'll be interesting to see whether the ban on short selling gets extended, comes to an end, or gets replaced with the uptick rule back in place. Then on Friday, the House will have a vote on the relief plan. So there's a lot scheduled this week. It'd be nice to get all of these events over with and go back to normal trading but then Alcoa kicks off earnings next Tuesday. So no easy breaks for traders.