There is a stock market adage that says: “Buy on Rosh Hashanah, sell on Yom Kippur.”. This year Yom Kippur falls on Sept 30.
Interestingly, the S&P500 index will be hitting a wall of resistance by mid-October.
As those who follow my work already know, a 5th arc is often formidable. I advise my students not to wait to see what will happen in cases like this. Just sell, or at least take money off the table, at a 5th arc.
Ominously, it also happens that a spiral calendar event will occur on the S&P500 on 10/24.
My advice to those who are long the stock market is to take profits if you have any and watch from the sidelines for a while.