Directional Bias For The Day:

• The futures are sharply down
• Odds are high for a down day
• S&P 500 has been down 7 out of last 8 years during the final five days of Q3
• Key levels for eMini futures: break above 2155 for bulls and break below 2131 for bears
• Markets in the East were mostly down – Australia was unchanged
• European markets are sharply down
• On Friday, at 4:00 PM, S&P future (Dec contract) closed at 2157.25 and the index closed at 2164.69 – a spread of about 7.50 points

Key Levels:

• Critical support levels for S&P 500 are 2154.61, 2151.41 and 2139.57
• Critical resistance levels for S&P 500 are 2166.07, 2170.97 and 2177.25
• Pre-NYSE session open, futures price action is to the down side; at 9:15 AM, S&P 500 futures were down by -9.50, Dow by -94.00 and NASDAQ by -27.25

The trend and patterns on various time frames for S&P 500 are:

Before NYSE Session Open

Friday maintained it extended its streak of down Fridays to six out of last seven Fridays.

All major U.S. indices were down and filling gap created a day earlier.

For the week, all major U.S. indices, Asian bourses and European exchanges were up. But, only U.S. market were up week before the last week.