Monday -- Nothing Is As It Seems

S&P E-mini Futures:
Bouncing from crisis lows.

News:
The Paris bombings are reprehensible. That people may have died because of a religious war is beyond tragic.

The patterns and parallels to previous "terror" attacks are even worse. It seems each large-scale attack must include at least one perpetrator's passport in new condition recovered near an explosion. There must also by same-day "terror drills" being performed for added confusion, along with a full-scale power blackout for maximum effect.

Be careful not to get sucked into knee jerk problem-reaction-solution psychology. Mass manipulation seems to have spread far beyond television advertising to become the principle objective of the "news."

Macro economic news of note: Japan's Q3 GDP turned negative once again, incredibly for the fifth time since 2008.

Asia was mixed last night, while Europe is mixed so far today.

FX:
JPY weaker on hopes of more stimulus. EUR weaker, USD firming.

Treasuries:
Low volume rally continues.

Energy:
WTI crude currently flat, NG up another 1% again.

Metals:
Gold and silver slightly green, with copper under pressure.

S&P Outlook:
The market elected not to bounce Friday morning, and in doing so put 2020 on the table.

Today's bounce has multiple choices for targets: 2035 area, 2045.97 gap, and 2060 area.

Perhaps an "A" wave of a still-developing ABC down from the November high is occurring.

Perhaps not. Doubtful the market will decide it all in one day and at current levels.