Individual Institutional Fintech & Developer
Sign in
Open account
Individuals Institutional

Call toll-free 800.328.1267

Login

Market Insights

Opportunity knocks for those with trading in their DNA.
Curiosity creates opportunity. Insights create strategy. Born traders create their destiny.

Stocks

Options

Futures

Market Trends | Markets | Uncategorized
Geopolitical Risks Emerge as October Begins: Market Trends This Week
David Russell
October 3, 2024

Downloads are available here. TradeStation’s ideas on TradingView are available here.

Check out our next “State of the Market,” on Monday, 10/7.

Tickets for the Crossroads Summit 2024, sponsored by TradeStation Group, can be accessed here.

Sizing Up the S&P 500

  • S&P 500 trying to hold breakout above 7/16 high of 5670
  • Potential reversal signals:
    • Stochastics crossover
    • 8-day EMA falling
    • Last week’s low-to-high range of 1.2 percent was the smallest since late March (before stocks fell).
    • Inside, outside days near highs
  • Intermarket:
    • U.S. dollar index potentially holding July 2023 low.
S&P 500, daily chart, with select indicators and patterns.

Geopolitical Risk

  • China stimulus (risk goes both ways)
  • Middle East conflict
  • Dock-worker strike
  • Presidential election
  • Ukraine war

Upcoming Events

  • Fri 10/4: Payrolls
  • Tue 10/8:
    • Earnings: PEP
  • Wed 10/9: Fed minutes
  • Thu 10/10: CPI / Robotaxi event
    • Earnings: DAL
Tags:

About the author

David Russell
David Russell is Global Head of Market Strategy at TradeStation. Drawing on more than two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

Related stories