Good Afternoon,

A quick fundamental preview:

**claims on Thursday - hovering above 375k - consistent with +200k to -200k monthly jobs created and a big reason why QE3 was implemented

**durable goods on Thursday - a measure of capital spending (big ticket items lasting 2 to 3 years or more)

**CHIPM on Friday - check out the employment and new orders sub-components.

Remember, you can access the economic calendar directly from the site using the tab above.

A warning shot for those with October options: earnings are coming out in mid-October, so keep an eye on the calendar.

Before I get to technicals, lets discuss the overall market sentiment. Bullish to neutral with a low VIX and buyers lurking on the sidelines. This will translate to tight market ranges and an overall "lack of direction" or more importantly, lack of convictio on the part of traders.

Technically, the SPX can NOT go down. Again today, we were down 6 and right back up towards the highs of the day. We lost a touch on the close, but still, we closed well off the lows. Until the "lurking buyers" dissappear, if you are going to go short, do it in a very, very good location and manage the trade very, very carefully.

Past performance is not indicative of future results

In forex, the USD/CAD is running into resistance as oil prices find support at 91.00. I do believe that oil prices are overbought given demand, but not overbought given equity prices. If equity prices surge higher, oil prices will get dragged higher. A possible double top in oil or maybe even a lower high may be in store. That means a higher low or a double bottom may be in store for the USD/CAD:

Past performance is not indicative of future results

See you Thursday for the IBFX Webinar: "Q3 in Review/Q4 Preview"

Happy Trading and Be Environmentally Cool

Coach Brian

Forex trading is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.