With six trading days left of October, the SPX is higher for a sixth consecutive month, currently +49pts (0.75%) at 6738. Even if October settles net lower, with a new hist’ high of 6764, it should be seen as a net bullish month.
Monthly momentum is increasingly positive, as there is ZERO sign of a short, mid, never mind a long term top. We’re set for another monthly settlement above the key monthly 10MA (6151) as the l/t trend remains bullish.
I’d be open to a brief washout to around 6K, but then what? Probably resuming upward into year end/early 2026.
Sure… stock valuations are ever more ludicrous. Maybe you’d prefer a Govt’ bond ? How about something from Japan, Germany, or the failed state of the UK ?
