Directional Bias For The Day:

• S&P Futures are higher
• Drifting sideways since 4:00 PM on October 2
• Odds are for a sideways move with upward bias – watch for break above 2529.50 and below 2525.50 for change of fortunes
• No Key economic data due:

Markets Around The World

• Markets in the East closed mostly up – Sydney was down; Shanghai and Seoul were closed for the day;
• European markets are mixed – U.K., France and Switzerland are up; Spain, Italy and STOXX 600 are down; Germany is closed
• Currencies:
  

  Up	Down
  Dollar index EUR/USD USD/JPY	GBP/USD AUD/USD NZD/USD USD/CHF USD/CAD

• Commodities are mostly down
  

  Up	Down
  Sugar Coffee Cocoa	Crude Oil NatGas Gold Silver Copper Platinum Palladium Cotton

• 10-yrs yield closed at 2.337% on October 2, up from September 29 close of 2.326%; 30-years closed at 2.865% up from 2.857%

Key Levels:

• Critical support levels for S&P 500 are 2525.84, 2521.58 and 2515.24
• Critical resistance levels for S&P 500 are 2532.10, 2535.08 and 2540.93
• Key levels for eMini futures: break above 2529.50, the high of 11:00 PM on October 2 and break below 2525.50, the low of 8:30 PM on October 2

Pre-Open

• On Monday, at 4:00 PM, S&P future (December contract) closed at 2526.50 and the index closed at 2529.12 – a spread of about 2.50 points; futures closed at 2526.25 for the day; the fair value is +0.25
• Pre-NYSE session open, futures price action is to the upside – at 8:15 AM, S&P 500 futures were up by +2.00; Dow down by +32.00; and NASDAQ up by +8.75

Directional Bias Before Open

• Weekly: Up
• Daily: Up
• 120-Min: Up
• 30-Min: Up

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

Previous Session

Major U.S. indices advanced on Monday October 2 adding the to gains of last week and make all time highs. All closed the day at the highs. NASDAQ Composite and Dow Jones Transportation Average made dojis. NASDAQ’s doji ws in the middle of day’s range. DJT had small upper shadow and longer lower shadow.

• S&P 500 Sectors