OCTOBER IS THE MOST VOLATILE MONTH OF THE YEAR – AI FRENZY TO BE TESTED, FED SPEAK, BITCOIN SQUEEZE
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Volatility Ahead
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The government shutdown is averted for now. The can has been kicked down the road until November 17.
- Sunday evening, when futures opened, the momo crowd bought aggressively on the government not shutting down. However, as of this writing, futures have not only given up their gains but have turned negative.
- The chart shows the stock market is in the top support zone.
October 2, 2023