Directional Bias For The Day:

• The futures are unchanged but down five points from 5:00 Am high of 2159.75
• Odds are for a sideways-to-down day
• Key levels for eMini futures: break above 2159.75, 5:00 AM high, for bulls and break below 2150.00, low of 3:30 PM Monday, for bears
• Markets in the East were mostly up; Shanghai is closed for the week
• European markets are mostly up
• On Monday, at 4:00 PM, S&P future (Dec contract) closed at 2153.50 and the index closed at 2161.20 – a spread of about 7.75 points; futures closed at 2153.25 for the day

Key Levels:

• Critical support levels for S&P 500 are 2154.77, 2145.20 and 2141.55
• Critical resistance levels for S&P 500 are 2164.41, 2172.92 and 2179.77
• Pre-NYSE session open, futures price action is mostly unchanged; at 8:45 AM, S&P 500 futures were up by +0.75, Dow by 10.00 and NASDAQ is up by +6.00

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

Monthly	Up trend since Feb 08, 2016
Weekly:	Current uptrend under pressure Up trend since Feb 08, 2016 with one pullback; broke out of a 2-year trading range in July, 2016 Last swing low, 1991.68, was reached on June 27, 2016
Daily	Uptrend remains under pressure Small red harami candlestick within Friday’s large green candle An up-sloping flag is forming; a break below 2145.20 will be bearish Price above 10-day EMA
2-Hour (e-mini future)	An ascending triangle is being formed since September 8 gap down A symmetrical triangle being within the ascending triangle since September 22 Sequence of Higher high and higher lows since 10:00 PM on September 22 not broken; break below 2135.75 will do it At the uptrend line from the lows of September 2
30-Minute (e-mini future)	Price broke below a uptrend line from lows of September 27 Formed a double bottom at 3:00 AM; a break above 2153.75 will complete the pattern

Before NYSE Session Open

On Monday, major U.S. indices were down and made a red-harami candlestick within a larger green candle of Friday.

Dow Jones Transportation Average advanced by +-.3%. It is breaking above a resistance level. It also does better in October than other indices. NASDAQ Composite is also above a rectangle trading range that it broke above on Friday.