The collision of global markets and social mood

Monday, October 3, 2016

Monday -- Kim, DB, And Reality

S&P E-mini Futures:
Down yet still in last week's trading range.

News:
Germany is closed for trading yet action is still taking place.

Friday's rumor of a DOJ deal with Deutsche Bank was false. DB's CEO has not begun any negotiations. DB CDS have spiked to a new record. DB ADRs trading slightly lower.

Weird omen: *reality* star Kim Kardashian robbed at gunpoint by fake cops in Paris hotel.

Could reality be making a comeback soon?

FX:
Another benign day with slight Risk On tone.

Treasuries:
Volume reappeared Friday as prices fell.

Energy:
WTI crude overnight high 48.87. NG continuing to correct.

Metals:
Gold currently hovering along the flat line amid declines in silver, platinum, palladium, and copper.

S&P Outlook:
Friday was the 7th narrow range day in a row. The 2177 area and the 2181.30 gap continue to be valid targets, as does the 2094.55-2103.25 zone.

Everything else in between feels like a chop fest.

Speaking of reality, the Dow did end up closing -- on a quarterly basis -- below its 2015 high on Friday.

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