Keep an eye on 10,800, as it's the next downside resistance - followed by 10,680. I expect them both to be broken - however timing is the only uncertainty.
With that said, tomorrow we will see data released from the International Council of Shopping Centers showing major retail chain sales data -- Note: Consumer Spending is 70% of the US economy.
Additionally, Monthly Consumer Confidence data will be released tomorrow -- a survey of consumer attitudes on present economic conditions and their expectations of future conditions.
I just checked opening futures for tomorrow, along with current Overseas markets: They are currently a sea of red.
Changing gears a bit:
Last Saturday I told you about two new bank failures that took place over the weekend - One being First National Bank of Nevada: Two more bank failures this weekend! .
Certainly, that was big news, but what I think may be even BIGGER news is: Andrew McCain, son of Republican nominee, John McCain, has resigned from Silver State Bank's board of directors this weekend -- McCain's son resigns from two Boards of Directors
Would a banking failure under son McCain's leadership look bad for dear old dad's election prospects? Hmmm...
Well, I suggest you keep an eye on Silver State Bank. Word on the street is they are not doing well.
Take a look at Bankrate and Safe and Sound ratings for Silver State Bank, Henderson Nevada: One Star (The Lowest Possible Rating) and 5G (Lowest Possible Rating).
I can only imagine the FDIC is working disaster/cleanup plans and decided it's probably time for Andrew to get out of the picture before the bomb goes off.
Politics at it's democratic best - gotta love it!