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The raging bull market took a breather. The S&P 500 actually pulled back 7% from the high at the peak of the recent Labor Day selloff. But that seems to be over. The market has since regained some traction and appears to be resuming an uptrend.

After a brief decline in early June, the market has resumed the uptrend that began on March 24th. It has been a spectacular 55% rally in less than five months.

The New Year is a wild one so far in the market with big up and down swings. The Dow was down big Monday and it’s up big today as bank stocks have caught fire.

The market looks like it wants to change its stripes and morph into something else. But it’s not there yet.

The market is also having a stronger reaction to good news than to bad news. The indexes soared yesterday on news of potential Fed asset purchases, like quantitative easing, to support the economy and the market. Today the market is loving news of positive trial results for a coronavirus vaccine.

We still don’t know who the president is... But the market loves it. The Dow is up over 700 points and the S&P 500 is up over 3% on the day.

It’s been another crazy week in pandemic-land. After an interruption last week, the market seems to have resumed its ascent.

How about this market? Even with the technology sector still in a funk and the huge energy sector rally abating, the S&P 500 just made a new all-time high anyway.

The fourth quarter earnings season is well under way and the results have been somewhat spectacular so far, and much better than expected.

After pulling back over 8% from the high, the market is having trouble finding any traction. And the selling may not be over.

In such an environment it’s easy to assume the worst and miss the flipside of the equation – great companies trading at prices that just a month ago we would have considered incredible. Market volatility and uncertainty are creating great opportunities.

So much for the technology selloff. The sector dipped its toe into correction territory and has roared back with a vengeance.

September lived up to its bad reputation. The S&P 500 fell 4.8% for the month. But September is over. Now it’s October, which is historically only the second-worst month of the year. What now?

What inflation? What supply-chain issues? Headlines be damned. This market is on the cusp of yet another new all-time high.

Today is the expiration of our three February covered calls. The big picture takeaway is that all three will expire for full profits, you don’t need to act on any of these trades, and come Monday we will no longer own a stock or option position in MRO, TECK and ABBV.

Based on the below press release highlighting the agreement for Australia’s Lynas to build a rare earths refinery in Texas, I recommend you sell your MP Materials (MP) position.

Earnings season has taken its first bite out of one of our holdings.

So far, October looks better than September for the market. After falling 4.8% in September, the worst month since the pandemic recovery began, the S&P 500 is up slightly for October.

Times are good. After a rough September, the market soared 8% higher to a new all-time high. Earnings have been spectacular, and the bull market is back, although the market has pulled back in the last couple days.

Our emerging markets signal turned negative as EEM lost 3.67% today.