Before the Open (Oct 26)

Good morning. Happy Tuesday.
The Asian/Pacific markets closed mixed with a bearish slant – gains and losses were small. Europe is currently mostly down – losses are moderate. Futures here in the States point towards a weakish open for the cash market that will put the S&P at a 2-day low (remember the market closed at its lows yesterday).
Nothing happened yesterday that changed my opinion of the market. The overall trend is up, but shorter term I have little desire to trade actively. I don’t see many good set ups, and since I tend to make money in bunches, I’m perfectly happy to admit this isn’t one of the times where easy money is being handed out. Trade if you must, but I personally don’t think there’s much to do until the charts reset themselves. We still have a big chunk of earnings season in front of us, and of course the election is 7 days away.
Here’s the SPX daily chart I’ve posted several times the last couple weeks (the trendlines have not been touched). For what it’s worth the top of the channel has been hit.

I say ‘for what it’s worth’ because as I’ve stated several times recently, all analysis techniques can be thrown out right now because the only thing that matters is the movement of the US dollar. More after the open.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers