FOR FRIDAY: (9/1) We see higher dollars and lower gold for Friday and expect higher stocks but the market may go for profit-taking before the long weekend. NQ cycles look the most volatile so tread carefully.
The lesson on these extreme news events like the missile from N. Korea over Japan the other night is to take profits on the knee-jerk reaction and not get greedy. We have profits on gold and the dollar but have given a lot back and hopefully you did better. Trends are changing with Sept. 13 now a key date for a dollar high and gold low and we assume that stocks will continue higher with breakout signals on NQ on Wednesday and on the SP overnight. Still, the trade is dealing with position squaring at the end of the month and before Labor Day and pre-employment report jitters.
