October Bulls Or Blues?
I'm not sure which index Bernie has used for his study as benchmark, but above is a 10 year monthly chart of S&P 500. I've highlighted the months of Oct and from there, you see only 2 red monthly bars out of 9 times. While I'm not saying that this Oct will also be a positive month and you go load up on Call options (there's no such thing as 100% guarantee in trading), statistics show that it has more than 2/3 chance of being so.
Candlestick patterns in the major indices are now indicating a reversal, so we may see more pullbacks ahead. Friday is a day to watch for the important unemployment reading as it may affect Fed's decision to cut rates further or stay put.
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