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This coming week is post-OPEX week which has tended to be volatile and to be bearish. The S&P rallied and is likely to correct in the coming week. This coming week has also been bearish seasonally. The monthly S&P 500 cycle also dips slightly. With the 10-day breadth line overbought, the market is too extended short-term and is vulnerable to a decline.
S&P Performance in Post-OPEX Week in October
The S&P tends to fall in post OPEX weeks in October.
Cycles Research Investments LLC
Here are two short sale recommendations for the near term.
The Amgen AMGN weekly cycle (6 of 6 signals correct) peaks on October 19th and bottoms on November 12th. In addition,