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The Degenerates Journal, Wednesday morning Basic edition, Wednesday October 28, 2026, page 1 of 6: the cover: Fed day, futures mixed; Wednesday, October 28, 2026, filed 5:58 AM ET, South Florida; S&P futures +0.07%, Nasdaq futures +0.44%, Dow futures −0.24% at 4:25 AM ET; the Fed decides at 2:00 PM ET with the 10-year yield above 5%; inside: In 30 Seconds, While You Slept, Yesterday's Tape, The Brief, Macro, Market Health, Earnings Today, the Econ Calendar, Yesterday's Standout, the Engine List — CSCO and ENB — and the Question into the Close; quote of the day — Seneca: we suffer more often in imagination than in reality.
Page 1 — The cover — Fed day, futures mixed, with the inside list: In 30 Seconds through the Question into the Close, today's Engine List (CSCO and ENB), and the Seneca quote of the day.
The Degenerates Journal, Wednesday morning Basic edition, Wednesday October 28, 2026, page 2 of 6: in 30 seconds: the S&P 500 rose 0.60% Tuesday and the Nasdaq 1.18%, led by chip stocks, the Dow nearly flat at +0.03%; the Fed decides at 2:00 PM ET with the 10-year yield above 5%; while you slept: Nasdaq futures up 0.44%, Dow futures down 0.24%, oil up 1.49%, gold down 0.29%; yesterday's tape: S&P 500 +0.60%, Nasdaq Composite +1.18%, Dow +0.03%, the S&P 500 closing 0.33% above its 50-day average; the brief and the macro table at 4:25 AM ET.
Page 2 — In 30 Seconds — the S&P 500 rose 0.60% Tuesday and the Nasdaq 1.18% on chips — While You Slept, Yesterday's Tape, The Brief, and the Macro table opens: S&P futures +0.07%, Nasdaq futures +0.44%, Dow futures −0.24% at 4:25 AM ET.
The Degenerates Journal, Wednesday morning Basic edition, Wednesday October 28, 2026, page 3 of 6: macro gauges continued: VIX −0.11% at 3:15 AM ET, oil +1.49%, the 10-year yield +1.2 bp, the dollar flat, gold −0.29%, Bitcoin +0.10% at 4:25 AM ET; the market story in plain words: Tuesday was a chip day, consumer confidence 91.7 against 81 expected, durable goods orders +1.8% against 1.5% expected, the Fed expected to hold at 3.75% to 4.00%; market health: Transition regime, today's #1 catalyst the Fed rate decision at 2:00 PM ET; breadth: 50% of the 50-name universe closed Tuesday above its 50-day average.
Page 3 — The Macro gauges continued — VIX −0.11%, oil +1.49%, the 10-year yield +1.2 bp, gold −0.29%, Bitcoin +0.10% — the Market Story in Plain Words, Market Health (Transition regime; today's #1 catalyst the 2:00 PM ET Fed decision), and Breadth: an even 50/50 split in the 50-name universe.
The Degenerates Journal, Wednesday morning Basic edition, Wednesday October 28, 2026, page 4 of 6: last night's earnings: no covered name reported after Tuesday's close; earnings today: 17% of covered names report today, half before the open and half after the close, led by two of the biggest AI spenders; econ calendar: weekly mortgage applications 7:00 AM ET, goods trade balance 8:30 AM ET, crude oil inventories 10:30 AM ET, Fed rate decision 2:00 PM ET, press conference 2:30 PM ET; yesterday's standout: Texas Instruments (TXN) up 3.62% Tuesday, +11.21% over five sessions, sales growth +20.3%, gross margin 60.2%, operating margin 40.8%.
Page 4 — Last Night's Earnings, Earnings Today — half the covered reporters before the open, half after the close, led by two of the biggest AI spenders — the Econ Calendar (trade data 8:30 AM ET, crude inventories 10:30 AM ET, the Fed at 2:00 PM ET), and Yesterday's Standout: Texas Instruments (TXN), up 3.62%.
The Degenerates Journal, Wednesday morning Basic edition, Wednesday October 28, 2026, page 5 of 6: Texas Instruments (TXN): percent change since the August 27 close with its 9, 50 and 200-day averages and volume, data through the Tuesday October 27 close; Degen Meter +84.4 of ±100, Strong Bullish, close above its 200-day average, flag Extended, Regime Extended; news that may affect the market: the Fed decides at 2:00 PM ET, two of the biggest AI spenders report tonight, last night's reporters moving premarket — a solar-equipment maker down 16.40% and a chipmaker down 6.90% — and oil up 1.49%; tomorrow brings third-quarter GDP and September PCE inflation at 8:30 AM ET.
Page 5 — Yesterday's Standout continued — the TXN figure and its Degen Meter at +84.4, Strong Bullish — and News That May Affect the Market: the Fed decision, tonight's AI-spender reports, premarket movers, and climbing oil.
The Degenerates Journal, Wednesday morning Basic edition, Wednesday October 28, 2026, page 6 of 6: the Engine List: Cisco Systems (CSCO) +1.03% and Enbridge (ENB) +0.25%; one more Engine List name reports earnings today, so it stays out of the Basic; what Pro members see: a full page for every Engine List name, how Tuesday's session graded, and what changes our view after the Fed; the Question into the Close: does the S&P 500 close higher today than it did on Tuesday?; LEAPS — PRO DEGENERATE only; membership: PRO DEGENERATE $7.99 a month, Ultimate Degen $14.99 a month including Discord.
Page 6 — The Engine List — Cisco Systems (CSCO) +1.03% and Enbridge (ENB) +0.25% — What Pro Members See, the Question into the Close (does the S&P 500 close higher today than it did on Tuesday?), LEAPS, and Membership: PRO DEGENERATE $7.99 a month and Ultimate Degen $14.99 a month.

In this edition

  1. In 30 Seconds
  2. While You Slept
  3. Yesterday's Tape
  4. The Brief
  5. Macro
  6. The Market Story in Plain Words
  7. Market Health
  8. Breadth in Our Universe
  9. Last Night's Earnings
  10. Earnings Today
  11. Econ Calendar
  12. Yesterday's Standout
  13. News That May Affect the Market
  14. The Engine List
  15. What Pro Members See
  16. The Question into the Close
  17. LEAPS
  18. Membership