S&P 500, Nasdaq100, and Russell 2000

Breakout at 5,670 Holds, Direct Move to 6,000 Possible

The S&P 500 successfully tested its previous high at 5,670 points. At this level, buyers consistently entered the market. Therefore, my forecast from last week remains: both a cosmetic correction down to 5,615 points and a direct continuation of the upward move towards the 6,000-point mark are possible. Greed and optimism are high, but there’s still room for more, as indicated by the CNN Fear and Greed Index.

October is statistically a good month for the stock market, though in the past five years, it has also been prone to sudden volatility spikes. Market breadth is another positive, with approximately two-thirds of S&P 500 stocks showing gains in September. There’s little sign of the earlier focus on the "Magnificent 7" from the start of the year.

Based on this assessment, I remain fully invested, with a small portfolio hedge still open, as I see significantly higher potential in my individual stocks compared to the index, which was confirmed last week. In conclusion, my focus remains on U.S. individual stock investments based on my criteria, without a clear sector focus. Currently, "leader stocks" are emerging from various sectors, and the broader market continues to climb the "Wall of Worry."