In summary, there are plenty of cross-currents at this time. The bulls have been wounded but are not dead just yet. However, a close below 3200 by SP-500 would be very negative and would reinforce the bears hold on the market.

Anything is possible.

 Now the only remaining near-term support area is at 3200. If that gives way, a pattern of lower highs and lower lows will be in place, and that is the mark of a bear market. That would be a game- changer.

The market continues to be bullish and it will continue to be bullish as long as the SP-500 continues to close above 3400.

"At first, I thought that intelligence was reality and price the appearance, but after a while I saw that price is the reality and intelligence is the appearance."

 TRADING 

A history of bull markets.

Based on history, this bull market is still in it's early stage. With Fed's commitment to low rates and aggressive support to the economy, corrections are buyable cyclical events within a secular bull market.

The S&P-500 chart is bullish and the market is strong for now, but it looks like it's waiting for its stimulus check. Stimulus has become the new drug and the search for a fix continues.

This pullback seems normal, so far, and the bullish case is still intact as long as SP-500 remains above 3400.

"A SIMPLE FORMULA FOR LIVING"

1. Live beneath your means.
2. Return everything you borrow.
3. Stop blaming other people.
4. Admit it when you make a mistake.
5. Give clothes not worn to charity.
6. Do something nice and try not to get caught.
7. Listen more; talk less.
8. Every day take a 30 min. walk.
9. Strive for excellence, not perfection.
10. Be on time. Don't make excuses.
11. Don't argue.
12. Get organized.
13. Be kind to unkind people.
14. Let someone cut ahead of you in line.
15. Take time to be alone.
16. Cultivate good manners.
17. Be humble.
18. Realize and accept that life isn't fair.
19. Know when to keep your mouth shut.
20. Go an entire day without criticizing anyone.
21. Learn from the past. Plan for the future.
22. Live in the present.
23. Don't sweat the small stuff. It's all small stuff.

In summary, equities are looking much improved across the board although running a bit rich and considering the massive upthrust it could continue or work off its overbought reading by treading water. Of course, if there is a contested election it all could become unhinged. Stay tuned!

Value stocks beat growth last month for the first time in a year. Will this trend last ?

Some people think this trend could last. They think if Democrats win, that will lead to more fiscal spending, which would help cheaper stocks, and higher taxes, which would hurt growth stocks, like big tech.

There is no way to know how this is going to play out.

The main "line in the sand", at 3300 is still in place. A close above resistance, at 3430 would be bullish for the SP-500 chart and for stocks in general. On the other hand, if SPs were to close below 3300, then the bears would have the upper hand.

What do you need to do to win the 4th quarter ?

 "When you experience someone else’s genius work, a little part of you feels, 'That’s what I could have, would have, and should have done!'

Someone else did it. You didn’t. They fought the resistance. You gave in to distractions. They made it top priority. You said you’d get to it some day. They took the time. You meant to.

When this happens, you can take it two ways: You could let that part of you give up. 'Oh well. Now I don’t need to make that anymore.' Or you could do something about that jealous pain. Shut off your phone, kill the distractions, make it top priority, and spend the time.

It takes many hours to make what you want to make. The hours don’t suddenly appear. You have to steal them from comfort."