One More Seasonally Weak Period Ahead?

Let's just remind ourselves that a Negative Seasonal Overlay could still be influencing market direction for the next several days prior to a transition into a much more favorable (bullish) setup (in theory). To my mind, this means that for the rest of this week and into most of next week, directional surprises likely will be to the downside, unless of course, the markets provide us with a bullish signal that leaves little doubt that the negative seasonal period is in the rearview mirror... The red arrow on the graphic below shows the position as of the close on Monday, October 2, which means that (again, in theory) ES and SPX are nearing one more seasonally weak period (where I drew the Red Circle) in the days immediately ahead...

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