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OWLS probably getting ready for take-off after a potential re-test towards the 200-round number meanwhile the SP closed outside the 'corridor' below 213 and the short-term daily MAs indicated by short-term weaknesses

RonR > Speaking probabilistically the SP is likely to follow the US market and the chances for the SPY (S&P 500) to be positive in the month of October 2023 are good. The S&P 500 has been positive in October in 17 of the past 20 years, for an average gain of 1.7%.

There are a few reasons why investors may be optimistic about the S&P 500 in October. First, the stock market has historically performed well in the fourth quarter of the year. Second, the economy is expected to continue to grow in the coming months. And third, corporate earnings are expected to be strong.

However, there are also some risks that could weigh on the S&P 500 in October. One risk is a potential recession. Another risk is rising interest rates. And finally, there is always the risk of geopolitical events or other unforeseen circumstances that could impact the market.

Overall, the chances for the S&P 500 to be positive in October 2023 are good. However, investors should be aware of the risks involved and should diversify their portfolios accordingly.

Here are some additional factors that could impact the performance of the S&P 500 in October:

The outcome of the US midterm elections

The Federal Reserve's monetary policy decisions

The ongoing war in Ukraine

Global economic growth

Inflation

Corporate earnings

Investors should monitor these factors closely and adjust their portfolios as needed.

Badland well that is still 14 points away from 200 potential major round number support.

SP is consolidating within the range of 213-223 while the price action gained momentum and has now crossed above the clouds on the monthly charts coinciding with the bowtie crossing of 5/200 monthly moving averages next up-lift towards 240/43 Fib 0.50% then followed by 280/85 Fib 0.618 and beyond meanwhile last week's high of 231.40 is the current immediate price target objective.

Hawki2s got you maybe we shall see 230s tomorrow who knows for sure anyway?

Maybe see 235 before November 28

The monthly close is above the clouds blue skies may lie ahead and the incoming trendline symmetrical triangle resistance at 250 is visible in sight and firmly on the radar.

Metom SP is fairly steady as we glide through the corridor (213/223) imaging Biden with a 'moustache' he could be mistaken for another Hitler if you bring on your think hat/cap is on another HC Anderson story.. anyways I also do hope before 28 November the skies have lifted and we have more clear visibility going forward on all fronts. ;-)

Metom as predicted yesterday ''According to Goldman Sachs, the odds of a government shutdown this year are now 90%. The Wall Street veteran expects a two-to-three-week-long government shutdown, beginning October 1.'' Politics are like wars no one reason until they get overthrown and then the pieces have to be rebuilt after the damages have already been done.

Myquite - As you know Every Little Helps, Jesus 5 posts in a week we may have started a trolley run!

1984Investor - That reminds me of a @Thor's hammer@ having said that there is a lot of scheduled turbulence ahead ;-)

The chances of a US government shutdown due to funding are relatively high. The current fiscal year ends on September 30, 2023, and Congress has not yet passed a budget for the next fiscal year. If Congress does not pass a budget by September 30, the government will shut down.

There are a number of reasons why Congress is struggling to pass a budget. One reason is the deep partisan divide between the Democratic-controlled Senate and the Republican-controlled House of Representatives. Another reason is the large number of spending priorities that Congress needs to address.

Despite the challenges, it is still possible that Congress will be able to pass a budget before September 30. However, if Congress is unable to pass a budget, a government shutdown is likely.

According to Goldman Sachs, the odds of a government shutdown this year are now 90%. The Wall Street veteran expects a two-to-three-week-long government shutdown, beginning October 1.

A government shutdown would have a significant impact on the US economy and on the lives of millions of Americans. During a shutdown, many government services would be suspended and government employees would be furloughed. This would lead to delays in processing passport applications, Social Security benefits, and other important government services.

It is hoped that Congress will be able to avoid a government shutdown by passing a budget before September 30. However, if Congress is unable to pass a budget, a government shutdown is likely.... 'Please double check the landing gear ;-)'

The SP remains in a fairly tight holding corridor between 213-223 once we close outside this 'box' we may see further momentum in either direction. The upside resistance target is 235 and the downside round number target is 200 support.

PinWiz good question the next major support is round number i.e. 200 which may act as major support.

Metom spot.on Joe & his son is no better why did they not see it coming?

Bobabout aint that for sure it's as lame as Starmer's name has been mentioned!

StockMonkey - Yes Bang on the middle of the trading range 213-223 next mid 230's unless SP500 is having a 'hard' landing.

Upomega - noted the main reason for the CEO to leave the company Hambro is not publicly known. However, there are a few possible explanations:

Leadership restructuring: In August 2023, Hambro's parent company, Perpetual Group, announced a leadership restructuring that resulted in the CEO of Hambro, Alexandra Altinger, leaving the company. Perpetual Group said that the restructuring was necessary to "simplify" the business and "improve focus on our global asset management business."

Personal reasons: It is also possible that Altinger left Hambro for personal reasons, such as to pursue other career opportunities or to spend more time with her family.

Regardless of the reason, it is clear that Altinger's departure is a significant loss for Hambro. She was a highly respected leader with a deep understanding of the asset management industry. It will be interesting to see who Perpetual Group appoints as the new CEO of Hambro and how the company's strategy evolves under new leadership.

It is important to note that this is just speculation, and the actual reason for Altinger's departure may be something else entirely.

Trello - Rolls-Royce has invested £50 million into its SMR business. This investment is part of the £490 million that the company has raised to develop and deploy its SMR technology.

The other investors in Rolls-Royce SMR include:

UK Research and Innovation (UKRI) - £210 million

BNF Resources UK Limited - £75 million

Exelon Generation Limited - £75 million

Qatar Investment Authority (QIA) - £85 million

Rolls-Royce SMR is developing a small modular reactor (SMR) that is designed to be more affordable and easier to deploy than traditional nuclear power plants. The company's SMR is expected to be able to generate enough electricity to power around one million homes.

Rolls-Royce SMR is currently in the design phase, and it expects to submit its design to the UK's Generic Design Assessment (GDA) process in 2024. If the GDA process is successful, Rolls-Royce SMR could start building its first SMR in the UK in the late 2020s.

Rolls-Royce's investment in SMR is a sign of the company's commitment to developing new and innovative nuclear technologies. SMRs are seen as a promising technology for the future of nuclear power, and Rolls-Royce is well-positioned to be a leader in this market.

Upomega - The main reason for the CEO to leave Phoenix Group was retirement. Clive Bannister, the former CEO, announced his retirement in November 2019, after nine years with the company. He was succeeded by Andy Briggs in January 2020.

In a statement, Bannister said that he was leaving Phoenix "in a strong position, with a clear strategy and a talented team." He also said that he was confident that Briggs was the right person to lead the company into the future.

There is no evidence to suggest that Bannister was forced out of Phoenix, or that he left for any other reason other than retirement.

Yes seems it is getting plundered back to the old ice age 50% drop in the last 6 months.