FX:SPX500 S&P 500 index of US listed shares
October is a month when investors review their portfolio. After a sulggish summer, this often signals a new period of growth. However, this year the summer months have seen an exceptional rise in share prices. Many traders will now be inclined to take profits, a fortiori because Interest Rates are due to start rising soon. Should the sell-off drive the chart through Support Line S, there will be a massive exodus, reminiscent of previous Black Mondays. This may not happen on a Monday, but is coming soon. To have anticipated a Black Monday would be the punt of a lifetime!