The collision of global markets and social mood

Monday, October 5, 2015

Monday -- Back To Bad

S&P E-mini Futures:
Good follow through from Friday.

Friday quickly turned from "Bad news is bad news" to "Bad news is good news." The market got below the benefit-of-the-doubt level of 1897.05 and ripped higher.

"Bad news" has followed in Europe and the UK with bad PMI data. Japan is a worsening economic mess. And conditions in China continue to darken . . .

All of which hint of more stimulus. Or so the markets seem to believe.

USD down, EUR up, AUD & CAD up, JPY weaker. Risk On.

Consolidating Friday's rally.

WTI crude up 1%.

Gold, silver, and copper higher.

S&P Outlook:
1952.89 should be easily exceeded today, but I will have a close eye on internals.

Here is a quick view of where we may be.

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