“I think it was a long step forward in my trading education when I realized at last that when old Mr. Partridge kept on telling other customers, “Well, you know this is a bull market!” he really meant to tell them that the big money was not in the individual fluctuations but in the main movements-that is, not in reading the tape but in sizing up the entire market and its trend.” – Jesse Livermore

1. China consumer inflation cools to near 5-year lows — CNBC, Chinese inflation dropped to an almost five-year low in September, tumbling to 1.6% on year from 2% in August and coming in below consensus of 1.7%. Factory gate prices (PPI) slumped 1.8% vs -1.2% previously. “You got falling oil prices, falling house prices, excess capacity in the industry and an appreciating currency,” says BNP economist Richard Iley.
2. Second health-care worker tests positive for Ebola in Texas — a second healthcare worker has contracted ebola in the U.S. The worker, a staff member at Texas Health Presbyterian Hospital, was among those who looked after Thomas Duncan, who died of the virus earlier this month. The CDC also asked 132 people who flew with that infected woman on a Frontier Airlines flight from Cleveland to Dallas on last Monday to call the federal Centers for Disease Control.
3. S&P 500 Sector at nearly 3 standard deviations below its 50-day moving average — courtesy of BIG, the index has now clearly broken its uptrend channel hasn’t been this oversold in more than two years. The S&P500 Index now trade at nearly 3 standard deviations below its 50-day moving average.

4. 13 Ohio nurses are being monitored for Ebola — MarketWatch, nurses from Ohio on the same flight with a Dallas nurse diagnosed with Ebola have been placed on paid leave while their health is being checked daily for possible symptoms. “We learned that Cleveland Clinic and The MetroHealth System had employees–mostly nurses–aboard the Frontier flight from Dallas to Cleveland on October 10, returning from a nursing conference in Texas,” the health systems said in a joint statement.

The week ahead — Economic data from Econoday.com: