Market Report Oct 05 2022

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Market Report for Oct 05 2022

S&P 500 and Nasdaq Daily Charts

Stock Market Price And Percent Changes

Consecutive days of a broad market rally from the start of October with the major averages showing their hand at the start of the session.

The short squeeze across the market will have provided enough pain and margin calls for many traders to exit shorts, at least for the time being. The question is, will this momentum continue? We knew October is a more bullish month than September so for the moment, we should expect the momentum to continue, until it doesn’t.

RBA raises their rates by 25 bps as opposed to the expected 50 bps. Will this suggest a softer approach for the Fed?

TWTR had a bullish day after Elon Musk amended 13D notified Twitter with his intention to proceed with the original deal.

We have not taken any shorts and still have long positions in place.

Let’s go trade!