Happy Saturday
The markets stumbled last week as news of an impeachment inquiry has begun. Where this will all lead is anyones guess but the markets do not like uncertainty. There are several indexes / sectors that are flashing warning signs and that leads me to raising the caution flag heading into the month of October. The month is typically associated with being a bad month for bulls as we have had several significant drops throughout history occurring in the month "The events that have given October the reputation for stock losses have happened over decades, but they include the Panic of 1907, Black Tuesday (1929), Black Thursday (1929) Black Monday (1929) and Black Monday (1987). Black Monday, the great crash of 1987 that occurred on October 19 and saw the Dow plummet 22.6% in a single day, is arguably the worst single day. The other black days, of course, were part of the process that lead to the Great Depression - an economic disaster that stood unrivaled until the mortgage meltdown nearly took out the whole global economy with it. The October effect is a perceived market anomaly that stocks tend to decline during the month of October. The October effect is considered mainly to be a psychological expectation rather than an actual phenomenon as most statistics go against the theory.(source Investopedia) Regardless of whether on not October is truly a bad month for bulls there are enough warning signs technically to take a very cautious approach to the markets. Watch this weeks video and see what is on my radar to help you prepare for the week ahead.
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My recent interview with Maj from GeoInvesting
Economic Calendar
SourceMarketwatch.com
Last weeks Pro member stocks to watch and their performance for the week
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This Weeks video
$SFIX $LNDC $NG $RPM $AMRS $ANGO $SGH $COST
Highly anticipated earnings for next week
Source Earnings Whispers .com
