The month of September was good. It had 5 Thursdays and Fridays which is neat. The expiration of the September futures contract brought in some much needed volatility and offered me a chance to add some NASDAQs to my purse after a long stretch of scraping by.
Now it comes to a perfect end, on a Friday.
I work off statistics. And the only stat I have says we are exactly 67% likely to drift higher to start the week. So my inclination is we drift higher.
Under the surface rotations are drifting away from risk. The Utilities sector performed best last week as we made new highs across several of the major indices.
Cooler temps are settling into the north. This shift may prompt the squirrls to start storing their nuts for safekeeping during the winter, resulting in a rotation away from equities. However none of it seems threatening. At least not yet.
Finally, the first Presidential debate is Monday evening. There are bars across the city hosting live viewings. It is going to be lit. Whether the market reacts is uncertain, but the events of Monday evening are likely to tint the entire week.
Do not let it sway you. Keep your vision objective by relying on the information provided by actual order flow. Market behavior.
Exodus members, the 98th Edition of Exodus Strategy Session is published. It details the market data I will be closely watching and a funny but timely quote from Bill Belichick. Go check it out!