FOR THURSDAY: (9/13) Trade waiting on Central Bank craziness for Thursday. We have hurricane and report paralysis for now and maybe we can get through it by early morning when most of it should be out of the way. For now, we have a bias for higher stocks into Friday and lower dollars, and that should allow metals to recover from deeply oversold conditions.

TRADING RECOMMENDATION: Wait for morning comments.
S & P ANALYSIS FOR THURSDAY: (9/13) We’ll still day-trade and follow Sept. on Thursday but will roll to Dec. on Friday, which is about 5.25 points above Sept. Our day-trade service noted that traders would be bargain hunting and buying in the 2879-80 region, and that was a great idea. Not sure the trade will take out 2900 easily and we will have to deal with Central Bank noise and Hurricane Florence and tensions with Syria. Computer models would allow 2915 basis Sept., which would be 2920 basis December. A move to at least 2906 would be easy to project.
CYCLE SYNTHESIS: Higher into Sept. 18.

Recommended Posts