FOR TUESDAY: (3/6) We could see stocks retrace some of Monday’s gains on Tuesday before going higher into Wednesday and Thursday. Dollar looks lower now and gold higher but it’s not significant for a choppy week. Oil should recover into Wednesday/Thursday/Friday.
OVERALL: Monday can be important for taking a position on the week, but the week before employment report can be whippy and congestive and doesn’t always lend itself to trend trading. We have a bias for higher stocks this week into Thursday but the ideal buy S & P zones of 2630 or 2602 haven’t come in and have a chance early in the week. Dollar is usually congestive this week and hoping for a weak rally in gold so we can get short into March 13. We’re watching key turns on March 8 and 13 for most of these markets.
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