S&P futures

the December contract is now the front month. This causes some targets to adjust.

the lack of FED tapering had given a boost to the inflation hawks. the metals had a big move up and the dollar had a similar move down.
the stock market is viewed as inflation hedge  and is valued at a discount to future earnings.
so if interest rates stay down, then the discounted value of earnings producing assets appear more valuable.

very loosely;  FED down>dollar down> metals up> stocks up (the nice thing about stocks is that the earnings can go up also)

Monthly- the 1709 target is the next up. and two higher targets are in the 1800’s
Weekly – the next target up is 1767.
the 1633 short entry was tested and now the bounce off that has taken us above the 1698 pivot.
watch any move down at these two levels, the 1698 pivot and the prior short entry of 1633.

the daily trade is down from the short entry of 1707. the next target down is 1677. [friday update: a 1676 morning low]

a move back up thru 1719 will signal higher.