FOR MONDAY: (10/8) Quasi-Holiday with Columbus Day and a banking holiday, and cash bonds and currencies are closed in the US. If stocks don’t crash on Sunday or early Monday, we have a bias for a recovery. We have both the dollar and gold higher next week and think the dollar be the correct one higher and wouldn’t buy gold. Crude oil looks mostly lower also and T-notes may bottom quickly at 117.05 and be done for the week.
DEC. E-MINI S & P 500
S & P ANALYSIS FOR MONDAY: (10/8) Market may not go below 2871 if we get another push down, and would need really bad news for the extended target to 2845. The bounce of 20 points late was strong and while Sunday night may be vulnerable, market may start recovering on Monday. Key daily chart support at 2871 and 2845. We’ve been eyeing 2835 on cash.
BIG PICTURE: (9/13) Will probably see 3050-3100 next year before the bull rolls over.
