October Is The Most Volatile Month Of The Year – AI Frenzy To Be Tested, Fed Speak, Bitcoin Squeeze
Portfolio Pulse from The Arora Report
October is historically the most volatile month for the stock market, and this year is expected to test the enthusiasm for AI stocks. The government shutdown has been averted until November 17, which initially led to aggressive buying by the momo crowd, but futures have since turned negative. The stock market is currently in the top support zone and is waiting for a trigger to move. The direction of the year-end chase will depend on upcoming earnings, momentum in AI stocks, new economic data, interest rates, and the November FOMC meeting. Money flows are positive in Apple, Amazon, Meta Platforms, Microsoft, and NVIDIA, but negative in Tesla and Alphabet. Money flows are mixed in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1. Bitcoin is surging due to a short squeeze.
October 02, 2023 | 3:05 pm
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POSITIVE IMPACT
Money flows are positive in Apple in the early trade.
Positive money flows indicate that more money is entering the stock than leaving, which could potentially drive the price up in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Money flows are positive in Amazon in the early trade.
Positive money flows indicate that more money is entering the stock than leaving, which could potentially drive the price up in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Bitcoin is surging due to a short squeeze. Many investors were buying bitcoin on the prospect of a government shutdown. When a deal was struck in the house to keep the government open, short sellers jumped in hoping that bitcoin would fall. This is when the whales apparently decided to squeeze the shorts, causing a major run-up. Bitcoin has now moved over $28,000.
The averted government shutdown led to a short squeeze in Bitcoin, causing a major run-up in its price. This indicates a positive short-term impact on Bitcoin.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Money flows are positive in Meta Platforms in the early trade.
Positive money flows indicate that more money is entering the stock than leaving, which could potentially drive the price up in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Money flows are positive in Microsoft in the early trade.
Positive money flows indicate that more money is entering the stock than leaving, which could potentially drive the price up in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Money flows are positive in NVIDIA in the early trade.
Positive money flows indicate that more money is entering the stock than leaving, which could potentially drive the price up in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The most popular ETF for gold is SPDR Gold Trust.
The article does not provide any specific news or events that could impact the price of SPDR Gold Trust in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Jamie Dimon, CEO of JPMorgan Chase, is speaking at 10am ET. His speech is considered important as he has great visibility into the state of the economy. He recently warned about higher interest rates and lower bonds.
Jamie Dimon's speech could potentially impact the stock price of JPMorgan Chase depending on what he says about the economy and interest rates.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Money flows are mixed in Invesco QQQ Trust Series 1 in the early trade.
Mixed money flows indicate that there is a balance between money entering and leaving the stock, which could lead to a neutral price movement in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The most popular ETF for silver is iShares Silver Trust.
The article does not provide any specific news or events that could impact the price of iShares Silver Trust in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust is currently in the top support zone and is waiting for a trigger to move. The direction of the year-end chase will depend on various factors, including the November FOMC meeting.
The SPDR S&P 500 ETF Trust is directly impacted by the overall movements of the stock market. The averted government shutdown, upcoming earnings, momentum in AI stocks, new economic data, interest rates, and the November FOMC meeting will all influence the direction of the ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The most popular ETF for oil is United States Oil ETF.
The article does not provide any specific news or events that could impact the price of United States Oil ETF in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Money flows are negative in Alphabet in the early trade.
Negative money flows indicate that more money is leaving the stock than entering, which could potentially drive the price down in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Money flows are negative in Tesla in the early trade.
Negative money flows indicate that more money is leaving the stock than entering, which could potentially drive the price down in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70