Will October be another Seasonal Bottom?

October presents large selloffs/bottoms historically. The weekly chart is very oversold. $SPY $QQQ $IWM $VXX $TLT $DJI

Kommentar:

October presents some good opportunities for buying into the Xmas rally if there is indeed a good selloff.

charts.equityclock.c...index-seasonal-chart

Kommentar:

NYMO is extremely oversold compared to historical bottoms.

pbs.twimg.com/media/...GPWkAAJOh9.jpg:large

Kommentar:

This is remarkably similar to October 15 2014. There was a big gap down after the downtrend was crushing along for 2-3 weeks, and a recovery all day. I am seeing big impulse waves for all 3 index futures.

Kommentar:

Well we did indeed get the pullback toward the 2720 area last night shown above... I hope that everything stays put here until the open, we need to have a slight gap down this morning to power through all day.

Kommentar:

Well I had a good run this morning long but stopped out with some profit. I took a few shorts today on the way down after 12 EST. What a blood bath.

Kommentar:

Note that DJI futures in the main chart window are nearing the bottom rail of the pitchfork. We could be due for a bounce soon.

Kommentar:

NASDAQ Futures

Kommentar:

DJI Futures getting very close now to bottom rail... maybe we get a bounce on Tuesday next week.

Kommentar:

Looks like a bottom in progress today.

Kommentar:

Turnaround Tuesday coming tomorrow?

Kommentar:

Historically, October has been a great buying opportunity during midterm election years. digital.wf.com/treas...tfolio-items/tm3210/

Kommentar:

"Furthermore, once the midterm election takes place, the index has been higher one year later every time since 1946"

Kommentar:

"In all instances, the index was higher one year after the trough, with an average return of 31%."

Kommentar:

Interesting place to leave DJI right before the midterms are final

Kommentar:

Backtesting neckline. This happens about 50% of the time from H/S bottoms.