The Market’s Rally Is Unrelenting

Gregory A. Clay • by Gregory Clay

Option Trading Strategist & Financial Writer • Oct 2, 2017 at 10:30 AM EDT

The market’s rally has been unrelenting with the Dow and the S&P tracking their sixth straight monthly gains, and the Nasdaq booking its third straight positive month.

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Ryan Vlastelica wrote in MarketWatch.com how the market’s hardest period of the year, in terms of historical seasonal patterns, is just about over, though investors can be forgiven if they didn’t realize things were supposed to be risky. The market’s rally has been unrelenting with the Dow and the S&P tracking their sixth straight monthly gains, and the Nasdaq booking its third straight positive month. Earnings season is beginning and unless there are significant disappointments it is reasonable to expect the bullish trend to march on. The effect of the recent hurricanes appears to be reflected in the updated chart below. Energy, Materials and Industrial stocks have surged to the forefront over the past month. Energy shares jumped over concerns about an adverse impact on oil and gas inventories. The post hurricane rebuilding effort is expected to boost Industrials and Materials stocks. With Fed signaling higher interest rates financial stocks are coming on strong. With earnings announcements upcoming we are taking advantage of the opportunity to enter long positons on stocks we have been scouting.

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