FOR MONDAY: (8/6) Cycles this week should be filled with geopolitical surprises, potential earthquakes and war tensions but not sure the stock market will care but it could impact oil and the dollar. Stay on top of news this week.
SEPT. E-MINI S & P 500
TRADING RECOMMENDATION: Wait for morning comments.
S & P ANALYSIS FOR MONDAY: (8/6) Friday was the best day for stocks to correct and they only managed an intraday pullback to 2824.75 and aren’t far from first minimum target of 2844.50. Unless we get some wildly unexpected bad news geopolitically, cycles are strong enough to push the market higher the next few days and there’s enough energy for new highs on NQ. Patterns suggest a move to 2860 with pullbacks to max. 2831 or 2825. Given cycles and the breakout energy, it‘s still a buy unless something dire is happening. NQ has more potential.
CYCLE SYNTHESIS: Higher into Tuesday; lower into Aug. 9.