The tentative EminiForecaster forecast for the trading week ending October 1st is now posted. (click “next week”)

We expect the market to decline next week all week.

The Federal Reserve meeting has thrown a bit of a bone into the trend we expected for this week and has caused volatility to increase.  Though, as we have seen, the market appears to be resilient to the down gaps like we saw this morning.  The cycle does appear to be down going forward through the end of the month, and starting on Monday.

In terms of the anticipated range from last week, we did manage to see the key resistance level a couple times during the week making for some good trading (or profit taking) opportunity there.   This morning we tested the low for the week making this a strange week, with most of the range occurring in overnight sessions and gaps etc.

I do not expect there to be any change to the forecast, so it will remain unchanged over the weekend.

For tomorrow, we expect trading to be mixed with some possible selling in the afternoon.

As always, manage risk prudently, next week we might see more trending and range expansion than this current week.

Wishing you the very best,

Rob, Vadim & Staff