Futures are Very Important

Review our Dow projections carefully, which have now been in affect for almost 21 days, still operating within a 584 point range.

We believe there is a 60% chance the market could move to 10,650 to 10,746, the top Fib retracmement, a 20% odds the market will hesitate no higher than 10,550, and a 20% chance the market could reverse to the 9950 to 10050 area, before another attempt at upside.
We also have had only two losing trades now out the last 32, and feel our reading of public sentiment, and of how the market breathes, has been very accurate. Accuracy is "wilted" a bit, however, based on the low volume we have seen in trading this past few weeks, which makes less definition to a stronger upside than if higher volume.

Futures are a very important part of how one trades this market. I begin watching futures at 8 p.m. the night prior and as early as 4.30 a.m. the trading day, EST. I watch for severe fluctuations vs. moderate swings.

The market has become simple to trade: trade at the market open and the market close, as the period between 11 a.m. and 2 p.m., what we've always called the Dead Time Zone is even more so becoming that. The institutional and electronic traders are trading more and more just at the opening, and close, and honestly, going out golfing mid day. It's a new anomaly. Traders keep up with any market moves by smartphone, and have buy/sell/ triggers in place in order to alert them of any major move during this slow time, otherwise simply "not being on the floor."

Friday is both Yom Kippur and Quadruple Witching Option Expiry for September issues. Lots to be "shock news" could be taken from announcements this week.