Weekly Williams %R stayed overbought in September on the $SPX, which they view as #bullish into 4Q; so, if this overbought condition holds, then the statistical likelihood of an additional grind higher increases dramatically.

GOLDMAN:
“the vaccine represents a more important factor than the election result for the path of equities. “

Nomura’s Charlie McElligott: “My view continues to be that the final election determination will not quite realize the ‘extreme chaos’ which has been anticipated by this incredibly hyped event…I am anticipating a pretty comfortable Biden win without a ton of drama, as Trump is losing swing states suburban wives and the 65+ cohort on the pande…[Read more]

Nonfarm Payroll estimates:
Oxford Economics: 600K
Citi: 1.2mm
Merrill: “We expect nonfarm payroll growth of 800k in September and the unemployment rate to improve to 8.1% from 8.4%.”
Median economists’ estimate: 800K