Stocks rose too high to 1695 yesterday as investors assumed US government shutdown will be temporary & it will be a good chance to buy stocks
Now that the shutdown is showing no signs of ending soon, investors should start to worry about the shutdown & debt ceiling again
Non-farm payroll is unlikely to be reported on Friday because of government shutdown
So investors will focus on ADP non-farm employment change today & it was lower than expected
Stocks should drop today as they're also overbought yesterday
Although there's also the possibility of stocks going up if investors bet on bad employment numbers which lowers the chances of QE tapering soon
Look to sell S&P 500 @ 1690 or 1695 if it drops & stays below for 30 minutes expiration
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