Flat.
News:
Not seeing much news today. It's options expiration, and that seems to be all that matters. Asia and Europe all green.
There was one thing. According to Marketwatch.com this morning, "volatility doesn't make you money."
I beg to differ.
FX:
AUD big mover today, down. USD up, EUR down.
Treasuries:
These look as confused as ever.
Energy:
WTI crude bouncing, up over 1%. NG threatening fresh new lows.
Metals:
Gold, silver, and Dr. copper all down.
S&P Outlook:
Proposed wave count from the August 28th blog post:
As of yesterday:
The notes regarding the current time signature are very important. The B-wave could drag on -- and ghost higher -- into November 25th. October 20th is .618% of the time traveled in wave A. November 25th would be equal in time to wave A.
As such, price could levitate higher into the 2050 area or possibly as far up as the 2119.21 gap. Something to be be aware of.
VIX, UVXY, and TVIX would get squashed. Good.
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