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Tuesday, October 4, 2016

Market Will Drop To the Low End of the Range - 180K Jobs Will Spark Profit Taking


One Option Trading Blog http://ift.tt/2d046G1 Posted 9:00 AM ET - Yesterday stocks retreated and we spent most of the day in negative territory. An afternoon rally pared most of the losses and the market remains directionless. China's market is closed this week and that will reduce activity. The news this week should have a slight negative bias. A jobs report in the range of 180,000 will lock-in a rate hike in December. This will prompt some profit-taking. We still have seasonal weakness for a few more weeks. Credit concerns are the only thing that can cause a sustained decline. We don't have one, but Deutsche Bank …

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