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.

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?

Another benign day with slight Risk On tone.

Volume reappeared Friday as prices fell.

WTI crude overnight high 48.87. NG continuing to correct.

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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