Market Wrap Monday

Good Evening,
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Macro:
Chicago PMI missed, Dallas Fed Manufacturing Survey missed very, very badly.
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1) Crude was a far bigger story today than stocks were.  WTI soared another 8%, and even traded above $49 a barrel.  This gave strength to the Energy sector, the only sector finishing in the green for the day.
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2) All of your major Indices gave up close to a percent today, with the exception of the Small Caps.  The Russell 2000 only lost 0.3% today.  Trading volume was well below last week’s levels.  All four major indices closed out their worst month in years, surrendering a rough 6% throughout August.
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3) Treasuries were hit hard late in the day, and as they were, so were the Utility, and Health Care sectors.
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4) My take…. The Fed is confused, and putting out mixed signals.  Chinese leaders are confused, and sending out mixed signals.  The only guys not confused are Oil traders.  They certainly seem to know what they want to do.  The market is trying to price in multiple uncertainties all at once.  This is why every twenty minutes or so for, market participants…. seems to have it’s own personality.  Better learn to live in this environment… it’s not going anywhere anytime soon.
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Levels:
SPX: Our 1986 was a precision strike at the top, while 1979 worked as resistance twice, as well.  I did give you 1972.  You might have been better served by 1970.  It does look as if a level is also developing in the 1960’s.
RUT: I gave you 1162, and  1156…. the tape gave you 1164, and 1156.