Poor October Setup, Good Year-end Rally Probabilities

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Welcome back to our Finom Group macro-market Research Report! September and the Q3 2024 period ended on a high note 🎶 . I don’t have much to lend to this weekend’s conversation, but I would suggest that investors and traders remain optimistic about the probabilities for achieving the Finom Group year-end price target objective of 5,800 and especially with one of the two key macro-issues out of the way with a port strike deal announcement this past week. Additionally, while we recognize the ongoing Israel/Iran/Lebanon/Hamas/Hezbollah conflict has escalated and is likely to escalate further in the near-term, we see this as a lesser macro-issue given the world’s greater desensitization to conflict in the Middle East, as flare-ups are frequent, even if not having led to an Israeli offensive in the recent past. More headlines will likely whipsaw markets intraday, but we currently view such volatility as opportunity.