Continue On ? ? ?

October 6, 2023 - First off, I’ve been doing a blog for over 5 years and it may be time to take a rest. My question to readers is: Do you find this useful and of value? If so, please “Add A Comment” and leave me a short response (like “please continue”), other wise since my subscription to Word Press is coming due shortly, I may just take a hiatus and stop for a while. Let me know please.

Well now . . . on Friday we got some very strong jobs data and initially the market dropped for an hour because very good news is “bad”; the FED will raise interest rates and keep them there longer. Then folks settled down and thought that maybe good news means the economy could pull off a “soft landing”; up it went recovering previous losses.

The market has fallen out of the “Trading Range” but made a one-day recovery on Friday. I note the low volume as nobody seems to be 100% convinced that the worst is behind us just yet.

In any case the US indexes did gain a little for the week with the exception of the small cap Russell 2000, which many consider a riskier set of stocks. Next week could be interesting to see how market react to the Palestinian – Israeli conflict and a test of whether this localized swing bottom actually holds. I would not be surprised to see one more push lower before a consolidation range builds into late October for a move back higher by the end of the year. I just feel that this market wants to fake out as many folks as possible before resuming a trend. A quick move down would ‘do it’ before the “smart money” comes back in. Just a theory at this point. The rest of the year should be traditionally positive from mid-October on.

That’s it for now. Please respond to my request to readers and we’ll see what develops. Have a good week. … Tom …