FOR TUESDAY: (9/11) Wondering if 9/11 Memorial will spook anyone on Tuesday. Most markets were quiet and not telling us much, as 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
S & P ANALYSIS FOR TUESDAY: (9/11) Market failed to rally much on Monday, and that’s a bearish sign. Three waves down would go to at least 2871.00 and the chances of 2860 are smaller but very possible. We do see the market coming to life to the upside on Wednesday but wonder if hurricane fears and Super Thursday will prevent much from happening. Ideally, we would like to see a new low to 2858.50-2860 and then a recover to 2892 later in the week. Market is oversold.
CYCLE SYNTHESIS: Generally lower into Sept. 11, higher into Sept. 12 and Sept. 18.
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