FOR FRIDAY: (8/10) New research suggests lower stocks for Friday and higher gold for Friday and Sunday but much of next week, gold looks lower. Geopolitical tensions should be strong over the weekend, and that would incline us to expect surprises into the Sunday night session and to not be too aggressively positioned. The following countries are on the sensitize news zone: China, UK, Argentina, Turkey, India and Israel.
SEPT. E-MINI S & P 500
TRADING RECOMMENDATION: Wait for morning comments.
S & P ANALYSIS FOR FRIDAY (8/10) Market continues to act toppy and is failing. Possible for a divergent high but skeptical. Fridays can often be good shorting days and if you’re a bear, this Friday may be a chance to go for a day-trade. We ‘ve been thinking that the night session is down and that the market could be lower on Friday.
CYCLE SYNTHESIS: Higher into Monday; probably higher into Aug. 13; lower into Aug. 16-17.