FOR TUESDAY: (10/16) Still sensing that stocks are too oversold to chase on the short side and waiting on the next leg lower next week. Lots of key reports on Tuesday and then FOMC minutes on Wednesday.
DEC. E-MINI S & P 500
TRADING RECOMMENDATION: Wait for morning comments.
S & P ANALYSIS FOR TUESDAY: (10/16) Our day-trade service was right on. This morning we said: Friday’s pivotal 2775 held early as well as the late recovery and continues to be the upper edge near the 200-day. This week has the market trying to stabilize some in a narrowing band after over 1/3 given back since the 2016 election.
CYCLES OVERVIEW: Higher Tuesday; lower Wednesday.