FOR FRIDAY: (4/13) Hard to play anything and gamble over the weekend. We favor no missile strike over the weekend into Monday and higher stocks, which would suggest lower gold but we may have to consider Sunday’s open to play if you have to play these volatile markets.
JUNE E-MINI S & P 500
TRADING RECOMMENDATION: Wait for morning comments.
S & P ANALYSIS FOR FRIDAY: (4/13): Despite all the crazy news, the market went over 2674 intraday and projects 2685 and 2705 and possibly 2713. Not sure anyone wants to hold over the weekend but if nothing happens, then they will probably take it higher on Monday. We had mentioned that peace cycles are strong into early next week so more reconciliation is possible but not thinking it will last, as the following week looks a bit tense. Can’t take a position overnight and market is chewing everyone up and we’ll leave it alone. We have a bias toward a pullback on Friday and will look for places to sell in the morning.
CYCLE SYNTHESIS: Lower into Friday; higher on Monday.
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