Market Overview

Monday Market Outlook: Expect the Unexpected


Every Monday, Benzinga Radio brings you trading intel from the S&P Futures Pit of the Chicago Board of Trade with's Ben Lichtenstein.

Markets appear to be continuing their holding pattern after solid gains last week, says Lichtenstein.

Last week left the S&P in balance above the 1210 level, still fairly close to the fundamental 1100-1200 range which has developed since the end of summer. The dollar and yen indexes, key foreign exchange indicators, continue horizontal movement.

Despite a smooth start to earnings season, headline risk in Europe and a weak American economy continue to encourage bearish sentiments for investors, leading some commentators to refer to October's market climbs as a “wall of worry.” Will we see a correction this week? Lichtenstein: “My guess is there are a lot of shorts. I tend to expect the unexpected down here. There are a lot of people who want to see [markets] go lower; when everybody is stacked up on one side, we'll take the other.”

Make it a great week - we'll see you back here next Monday.

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