We All Better Lawyer Up

As though this market did not have enough looming risks, tonight we have Facebook's earnings report. 

Without question, FB has been as impressive as any leading stock in the market since it emerged from its post-IPO malaise in the summer 2013. Since then, the stock has not looked back even a smudge, as the management team has executed beyond expectations. 

Therefore, the pulse of the Nasdaq and indeed the broad market will be on the line here, especially with the recent weakness. Biotechs and small caps remain oversold, but thus far they have been unable to bounce much. 

Risks are high all the way around, and likely will be at least until after the election. 

More in my recap after the bell.