October. It can bring crashes. So could any other month…
The reality is October is usually bullish. I’ve been saying this all month. I bought the dip this week and it’s appearing my reading and timing were almost perfect.
Yesterday’s rally is setting a beautiful rally for the end of the year.
The VIX fell, the put-to-call ratio snapped back from an oversold signal, and the market rallied with a vengeance. BAC led the pack (+4.5%) as earnings season kicked off.
Energy is still moving up with oil making new highs signaling growing economic activity. And the market’s risk appetite is huge … Look at bitcoin … it’s above $59,000 this morning. New all-time highs could happen this weekend.
The last chip to fall is consumer spending. Finance and energy lead bullish rallies but retail sales make up 75% of the economy. Watch the consumer data that comes out this morning. I expect more bullish signals.
I’m holding all my swing trades. Still waiting on the day trading signals … staying on the bench for now.
OTC stocks (on watch, no levels):
ILUS, CYBL, NTTHF, MJWL, MWWC, IGEX