SPX may be pricing in 3089

(If SPX stays below 3375, possible scenario)
-5th wave down matched up to1st wave
-SPX support line Pre-Pandemic
-SPX support line Post-Pandemic

A new month begins and we'll see what the market sentiment looks like after jobless claims. Especially with all of the permanent layoffs from Disney, Airlines, etc...

THURSDAY, OCT. 1
8:30 am Initial jobless claims (regular state program, SA) Sept. 26 840,000 870,000
8:30 am Initial jobless claims) (total, NSA) Sept. 26 -- 1.45 million
8:30 am Continuing jobless claims (regular state program) Sept. 19 -- 12.58 million
8:30 am Continuing jobless claims (total, NSA) Sept. 12 -- 26.04 million
8:30 am Personal income Aug -2.6% 0.4%
8:30 am Consumer spending Aug 1.0% 1.9%
8:30 am Core inflation Aug 0.3% 0.3%
9:45 am Markit manufacturing index Sept. -- 53.5
10 am ISM manufacturing index Sept. 56.5% 56.0%
10 am Construction spending Aug. 0.7% 0.1%
11 am New York Fed President John Williams speaks
3 pm Fed Gov. Michelle Bowman speaks
Varies Motor vehicle sales (SAAR) Sept. -- 15.2 million
FRIDAY, OCT. 2
8:30 am Nonfarm payrolls Sept. 800,000 1.371 million
8:30 am Unemployment rate Sept. 8.2% 8.4%
8:30 am Average hourly earnings Sept. 0.2% 0.4%
9 am Philadelphia Fed President Patrick Harker speaks
10 am Consumer sentiment index Sept. 79.0 78.9
10 am Factory orders Aug. 0.9% 6.4%

Comment:

Comment:

New Target: 3115 (200 Simple MA)
Possible H&S Play down to 2836 - 2800

- Pelosi / Mnuchin talks for Stimulus Fail (again)
- New numbers of permanent layoffs (Disney, AAL, etc.)
- Worse than expected jobless claims tomorrow?