From the desk of Joe Rios…
There was plenty of news last week to keep the markets on the move, including the presidential debate, rumors about an OPEC deal and anxiety about Deutsche Bank. The day-to-day volatility provided trading opportunities, despite the S&P 500 and the US dollar finishing the week practically unchanged. In the commodity market, the energies were active with crude oil gaining 8.03% while natural gas dropped -3.65%.
S&P 500 day-to-day change
Monday – 0.86%
Tuesday + 0.64%
Wednesday + 0.53%
Thursday – 0.93%
Friday + 0.80%
October has been known to be a tough month for stock investors. Some of the most severe market crashes occurred during October. In the week ahead I am expecting more volatility and more price swings. Intermarket correlations will be my primary focal point for spotting trading opportunities.
Joe Rios
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