S&P 500 Futures

With circuit limits being stretched, October probably wont be a boring month!

We are in a trading range between 3200 level on the bottom and 3400 level on the top. Whether or nit we can breakout of these is a completely different story, but it does not seem very likely at this point. If we do breakout of this 200 point range, then we are either going to go to the 3600 level or the 3000 level depending on the direction.

The candlesticks are conflicting over the last three weeks, so at this point it looks like we really have nowhere to be. If you think about it, it would not be a huge surprise to stay in this overall range between now and the election at the beginning of November. Having said that, I am more than willing to take the trade that breaks out, be it up or down from this range if and when it finally happens.