Meta Strategy Trading Portfolio – Probability Map Update.

– Positioning Update Tuesday –

Violent Chop

October is living up to its name as one of the most volatile months of the year as stocks chop around in a wide, volatile range that is driven by policy news.

This is quite the change of character from the previous calm months.

Buyers are still validly trying to step in like they have been conditioned to, but an instant recovery to new all-time highs is missing as yet.

Over the very short term this puts me into a wait-and-see mode with no edge.

Over the medium- to long term, however, momentum studies continue to clearly show that this pullback is a high-probability buying opportunity.

They unanimously point to Q4 strength with as close to a perfect record as market studies can have.