Dear Reader,
You may have missed it, but the markets touched 580 on Friday before closing just below that mark at 579.58.
As I write this, markets are up 0.72%, with the SPY trading at 583.80.
Now, while we got here faster than even I thought possible, this is NOT an accident.
I’ve been telling you since last spring that the end-of-year target was somewhere between 550 and 580 (the exact top range of our target is actually 585).
By mid-July, we’d eclipsed the 550 level, and I readjusted the target to 580 before the end of the year…
And then, a few weeks ago, I moved the target date up to election day.
But, as is often the case, the market had other ideas…
As I told you last week, the four-year presidential election pattern is peaking, and that’s going to have a very bullish influence on markets.
But that’s not the only thing…
Late last week, JP Morgan analysts declared a victory for the Fed, saying that the bank of last resort had officially orchestrated a soft landing – and that the economy would avoid a recession.
The economy keeps getting stronger… markets keep hitting all-time-highs, unemployment remains near historic lows, inflation is at its lowest levels in more than 3 years, interest rates are in decline, with more cuts on the way…
The big question now is… what’s next?
Now that we’ve arrived at 580, where do we go from here? Are we going to be stuck in a range for the next few months?
I think you know the answer…
As I’ve been telling you for months, we’re entering a very bullish period in the markets, with a ton of opportunities for smart traders to turn a profit.
So today’s Five Points video is all about what happens next – will “Up-tober” continue for stocks and options?
Click below to find out…
Good Trading,
Tom Gentile
America’s Pattern Trader