FOR WEDNESDAY: (9/12) Super Thursday is approaching with a number of Central Bank meetings (but not the US until Sept. 26). Nothing happening on the commodity front of interest just yet or with other markets. Hurricane Florence and potential damage is a concern, and China rhetoric and planning continues to ratchet up–and it’s not a good idea to corner a Panda when her cubs are threatened. Not going to end well.
SEPT. E-MINI S & P 500
TRADING RECOMMENDATION: Wait for morning comments.
S & P ANALYSIS FOR WEDNESDAY: (9/12) We’re moving toward contract rollover for Thursday. Dec is trading at 5.25 above Sept. Our aggressive buy point was 2865.75, which didn’t come in, and today was a transition day. Market really didn’t fall that much from the highs and looking for a retracement up to easily 2897.50 and 2900.50. We have a bias toward higher prices into Friday so we may need to buy pullbacks in the morning. Trade suddenly at ease about polite Chinese talk but the reality of the situation is messy. Of larger concern is whether the US will go back in against Syria and get duped into another false flag. The military industrial complex still wants to start a war.
CYCLE SYNTHESIS: Higher into Sept. 12 and Sept. 18.
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